A deal to save Belfast shipbuilder Harland & Wolff has been officially completed, its new Spanish owners have confirmed.
Last month, the UK government confirmed a takeover by Spanish shipbuilder Navantia to buy Harland & Wolff’s four shipyards, securing 1,000 jobs in total and “the future of shipbuilding in Belfast and Scotland”.
Navantia, situated in Cadiz, has been in talks with Harland & Wolff since October following the Belfast-based shipyard’s holding company collapsing into administration.
The deal has secured around 500 jobs in Belfast with employees transferring over to Navantia.
In a statement, Ricardo Dominguez, Chairman of Navantia, said: “The completion of this acquisition marks a significant milestone for Navantia UK and demonstrates our long-term commitment to UK industry.
“By combining Harland & Wolff’s proud heritage and facilities with Navantia’s global expertise in defence, maritime and renewable energy, we are creating an exceptional platform for growth.
“Navantia UK extends its gratitude to His Majesty’s Government for its support throughout this process, which has helped secure this strategic investment in UK industrial capability.”
When first announced last month, the deal was widely welcomed including by the Business Secretary and the union GMB after the iconic shipbuilder long associated with the Titanic announced in September it’s parent company would go in administration.
In a new statement, GMB’s National Officer Matt Roberts welcomed the news the deal was officially complete.
“Workers across all four yards will breathe a sigh of relief at finally being under stable ownership.
“But at GMB we will remain cautious. Without a steady drum beat of work, these yards will continue to struggle.”
In a statement released in December, the Department for Business and Trade said the deal “will secure the future of Harland & Wolff’s shipyards in Northern Ireland (Belfast), Scotland (Arnish and Methil) and Devon (Appledore), and protect workers’ existing terms and conditions”.
It added: “It will also ensure the delivery of the Ministry of Defence’s contract with Navantia to build three Royal Navy ships which would transport munitions, spares and supplies to UK aircraft carriers – the Fleet Solid Support (FSS) Programme.”