Sat, 27 Jul 2019 | BUSINESS SALE
The Harland and Wolff shipyard in Belfast will not be able to survive past the end of July if a buyer doesn't come forward, according to Unite the Union.
The business was originally put up for sale at the end of last year as a result of serious financial issues stemming from its Norwegian parent company.
The shipyard, which currently employs around 130 people, is thought to have held a series of meetings with a number of potential buyers, as well as with union reps, Invest NI and a number of senior political figures, in a bid to tackle its financial issues and move forward.
According to a Harland and Wolff spokesman, the firm has also completed all necessary legalities and is firmly in place to proceed should a buyer emerge.
"The company had hoped to have completed the M&A process at this stage," he said, "but can confirm that they are still in negotiation with a number of potential bidders in an effort to transact a sale that achieves the best outcome for all stakeholders."
Unions are certain that the shipyard could turn around its financial issues should it win the chance to work on the Royal Navy's new Type 31e frigate. However, this will not be possible until a new owner is in place.
Susan Fitzgerald, regional coordinating officer with the Unite trade union, added that the government should also work harder to support shipbuilding in Britain and follow through on its previous commitments.
"We are calling on the Government to take the helm of Belfast shipbuilding, nationalise the yard and draw up a full strategic plan focused on maintaining capacity and skills," she said.
Electrical wholesaler of an array of electrical products, including lighting, heating, ventilation, cable management, mains distribution equipment, fire, security and data products. Offers invited.
FREEHOLD
Provides a wide range of mandatory vehicle lights and flashing warning lights for vehicles and equipment in a number of market sectors.
LEASEHOLD
Provides high-quality firefighting products, including fire extinguishers and fire suppression systems. Products hold numerous global certifications.
LEASEHOLD
|
24
|
|
Feb
|
Nestlé acquires recipe kit firm SimplyCook | BUSINESS SALE
Nestlé has strengthened its position in the e-commerc...
|
23
|
|
Feb
|
Lockdown exit: What does the road map look like for UK businesses? | BUSINESS NEWS
After a winter spent almost entirely in lockdown, the govern...
|
22
|
|
Feb
|
Modular Group acquires Euramax Solutions with BFS backing | BUSINESS SALE
Modular Group Investments has acquired Barnsley-based window...
Sign up to receive our acquisition alert emails to get your FREE guide
|
07
|
|
Aug
|
Harland and Wolff shipyard falls into administration | ADMINISTRATION
Harland and Wolff, the Belfast shipyard that built the Titan...
|
06
|
|
Aug
|
Titanic shipbuilder capsizes while vultures circle | ADMINISTRATION
Insolvency specialists at BDO have been appointed administra...
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