Following the takeover by Harland & Wolff, more than 1,000 jobs were saved.
Navantia, a rival company owned by the Spanish government, has acquired four Harland & Wolff sites: in Belfast, Appledore (Devon), Methil (Fife) and Arnish, on Lewis’ Isle.
This follows the insolvency of last September when it announced that it was going to appoint administrator after an audit found it did not have long-term financing secured to cover ongoing costs.
The business famous for its iconic “Samson and Goliath’ cranes at Belfast dock has gone into administration twice in the last five years. InfraStrata, a small energy company, was bought out in 2019.
The shipbuilder claims that now, under Navantia UK’s management, this move will strengthen the nation’s defence, maritime, and clean energy industrial capability and allow H&W take advantage of their “extensive experience to support a highly-skilled workforce and robust supply chains”.
Ricardo Dominguez said, “The completion marks a significant landmark for Navantia UK, and demonstrates our commitment to UK Industry over the long term.”
By combining Harland & Wolff’s proud heritage with Navantia’s global expertise in defence and maritime, as well as renewable energy, we create an exceptional platform for future growth.
According to the shipbuilder all affected employees have been transferred to Navantia UK, with their current conditions and terms preserved.
Matt Roberts, GMB’s national officer, commented on the buyout: “Workers in all four yards will breathe out a sigh if relief that they are finally under stable ownership. GMB will continue to be cautious. These yards will struggle if they don’t have a steady stream of work. We will continue to fight for a sustainable future for UK manufacturing.
Department for Business and Trade welcomed the deal that was signed in December 2024.
Jonathan Reynolds, the UK’s business secretary, said that the deal was a “major vote of confidence” in the UK by Navantia. It will not only ensure the future of UK Shipbuilding but also protect 1,000 jobs throughout the UK and attract future investment to shipbuilding.
He said that the government was “steadfast” in its support of the future of UK Shipbuilding, highlighting the fact that national security was the basis of the plan for change.
Reynolds said: “This deal guarantees our sovereign shipbuilding capabilities to bolster our Navy, and ensures the industry can continue delivering economic growth and boosting coastal communities across the UK.”
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