Spanish Navantia rescues iconic Belfast shipyard Harland & Wolff
Shipbuilder Harland & Wolff has been bailed out by a Spanish rival in a deal that will save 1,000 jobs.
The Belfast company, famous for building the Titanic, went into administration for the second time in five years in September.
It has now been bought by Spanish state-owned company Navantia, which won a £1.6 billion contract to build three ships for the Royal Navy with Harland & Wolff in 2022.
The government agreed to amend that contract, which Navantia wanted to improve.
Rescue: Shipbuilder Harland & Wolff was put into receivership for the second time in five years in September
The rescue will safeguard a thousand jobs at four shipyards: one in Belfast, two in Scotland and one in England.
Business Secretary Jonathan Reynolds said: ‘This is a great vote of confidence which will not only secure the future of British shipbuilding but also protect 1,000 jobs.
It will guarantee sovereign shipbuilding capacity to strengthen our Navy and ensure the industry can continue to deliver economic growth and boost coastal communities.”
Defense Secretary John Healey added: “It strengthens our sovereign ability to support Royal Navy operations worldwide.”
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