Mon, 12 Aug 2019 | ADMINISTRATION
The directors of Ferguson Marine Engineers, the company behind the shipyard in Port Glasgow, have put the business in administration following its involvement in two long-standing disputes with the Scottish government.
Specifically, the disputes were in relation to the construction of two ferries for CalMac, the government-owned ferry business, over the use of hybrid power systems which use a combination of diesel and liquefied natural gas.
Gerry Marshall, the chief executive of Ferguson Marine Engineers, said: “It is with great regret and disappointment that the directors of Ferguson Marine Engineering Limited have served notice to appoint an administrator to the company.
"This decision has not been taken lightly, but the directors do not consider there to be any other options in the current circumstances.
"However, the directors will continue to support the shareholder and the Scottish government to realise a positive outcome for the business and its employees.”
Ministers have pledged to secure the future of the yard, and have vowed to ensure that all vessels under construction will be completed with all jobs also safeguarded going forward.
Clyde Blowers Capital (CBC) is the yard’s parent company, which proposed to the Scottish government last month to take over a share of the ownership. The plans, however, were rejected.
A spokesperson for the Scottish government stated: “Our priority remains to ensure the completion of the vessels under construction, secure jobs for the workforce and protect the future of shipbuilding at the site.
“We’ve been working to secure a future for the shipyard for two years, and it is disappointing that we have not been able to reach a commercial solution with CBC that would have prevented administrators becoming involved.
“[…] we are committed to maintaining the jobs on the site and building a secure future for the yard and its workforce.”
The company offers a fully comprehensive service,providing a wide range of products through its large trade counters, extensive repair and maintenance services, and quality on- and off-site training on safe usage of the equipment. Long-standing clien...
The company specialises in providing a comprehensive range of services to the access platform industry, including: equipment refurbishment, hire & lease, sales of new and used machinery, yard work/on-site work and provider of equipment parts. The com...
The company is a well-regarded contractor providing civil engineering and maintenance services throughout London and the surrounding areas. Based on word of mouth recommendations and referrals, the company has organically developed and maintained a l...
SD Sealants, a sealant and cosmetics repair business headqua...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources