Navantia finalises Harland & Wolff acquisition
With Navantia having finalised its acquisition, some of Britain’s largest shipyards are now owned by Spain (Source: H&W)
Mid last week, Navantia UK reported the acquisition of Harland & Wolff as complete, after a long negotiating process with the UK Government. The detail entails Navantia, a Spanish state-owned shipbuilder, taking control of Belfast, Appledore, and Methil and Arnish shipyards.
But not everyone is happy with the manner of the acquisition: as previously reported in Ship Repair Newsletter, the British Government is divided over the decision to allow the yard to enter administration, meaning that suppliers across the UK and Ireland, some of them owed many millions of pounds, will not see a penny.
The argument has been made that even though workers at Harland & Wolff will keep their jobs, suppliers now having suffered losses of over GBP 20 million have started laying off their own staff.
“This new Navantia UK, with a workforce of 1,000 people, the track record and facilities of Harland & Wolff and the global experience of Navantia, is a strategic asset for our company and a platform for growth,” said Navantia president Ricardo Domínguez. “It demonstrates our commitment to the Fleet Support Ship (FSS) programme and Navantia UK's commitment to collaborating with UK industry to strengthen local capabilities.”
