UK shipyard buyer found

Industry Database

A conditional contract has been announced for the purchase of assets of the former Harland and Wolff Heavy Industries Limited and Harland and Wolff Group Plc.

InfraStrata is set to purchase the Belfast-based shipyard, which went into administration in August, having failed to secure a buyer when it was put up for sale in June after its Norwegian owner Dolphin Drilling filed for bankruptcy.

InfraStrata has launched a fundraise of up to £6m to fund the £5.25m consideration through a placing of new Ordinary Shares by way of an accelerated bookbuilding process.

The acquisition will bring in-house a large part of the engineering and fabrication requirements for InfraStrata’s Islandmagee Gas Storage Project and proposed FSRU project.

The target completion date of the acquisition is 5 December. 100% of the 79 employees are expected to be retained.

There are plans to significantly increase the size of the workforce by several hundred over the next five years.

By Rebecca Jeffrey

Latest Press Releases

Damen Shiprepair Amsterdam MD receives Harbour Medal

On Friday 29th November, managing director of Damen Shiprepair Amsterdam Tjeerd Schulting was awarde... Read more

Dutch Police Patrol Vessel christened at Damen Shipyards Gorinchem

On November 29, the christening of a patrol ship for the Dutch National Police took place at Damen S... Read more

Damen and VSTEP Simulation in joint venture to establish simulation research laboratory

Damen Shipyards Group and VSTEP Simulation, a leading provider of training simulation technology, ha... Read more

70 years of business at Damen Shiprepair Oranjewerf

28 November 2019: Damen Shiprepair Oranjewerf is celebrating 70 years of delivering repair, maintena... Read more

Jongen deploys Damen InvaSave for the Port of Hamburg

Mobile ballast water treatment system will protect the Elbe from invasive Species Read more

THE SMS GROUP - COMPLETES INTERIOR REFITS IN THE CARIBBEAN AND CANADA

The SMS Group, one of the country’s leading ship repairers and marine engineering services providers... Read more

View all