Mon, 13 Nov 2017 | ADMINISTRATION
Leading Scottish engineering company, Burntisland Fabricators, is on the verge of calling in administrators, it has been revealed.
BiFab builds large scale equipment for the offshore oil and gas industry, as well as platforms for offshore wind turbines and tidal generators from their yards in Fife and Arnish.
Recent cash flow problems have taken their toll on the company, however, who employ around 600 people. They have recently filed papers to begin the process of entering administration.
Only a year ago, BiFab secured a £100m contract for the manufacture of 26 offshore wind turbine jackets from the Dutch contractor Seaway Heavy Lifting (SHL), part of the £2.6bn Beatrice Offshore Windfarm Ltd Bowl project in the Outer Moray Firth led by energy giant SSE. However fortune has not smiled on them in the time since.
The failure of the business would put the local community in peril, as well as damaging the Scottish economy as a whole.
GMB Scotland Secretary Gary Smith said: "It goes without saying that our members demand urgent answers from the employer about how it has ended up in this position less than a year after securing such a significant contract.
"We are in contact with the Scottish government and the possibility of losing over 600 highly skilled and decent paid jobs doesn't bear thinking about.
"Letting these workers and their communities go under is not an option."
It is hoped the Scottish government will take immediate action to keep BiFab afloat and save these jobs and skills.
Subscribe to the Business Sale Report
Search businesses in administration
Opportunity to acquire a well-established sign manufacturing and installation business in North West England, known for its quality craftsmanship and reliable service.
This motorhome manufacturer presents a unique chance to acquire a well-established business with a strong reputation in the leisure vehicle market.
This is a unique opportunity to acquire a well-established bespoke interiors business situated in the affluent north of England, known for its blend of traditional craftsmanship and modern innovation in custom kitchens, bedrooms, and furniture.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.