Titanic shipbuilder Harland & Wolff is reportedly on the verge of falling into Spanish hands under a £70 million government-backed rescue deal.
The company, which went into administration in September, is expected to be bought by Spain’s Navantia, according to Sky News.
An announcement could come as early as tomorrow and will include job guarantees. Best known for building the Titanic in Belfast, Harland & Wolff also runs the historic Appledore shipyard in Devon, as well as two sites in Scotland.
But the 163-year-old company fell into administration after struggling to keep up with the competition.
H&W declined to comment. Navantia was contacted for comment.
Rescue deal: Harland & Wolff, which went into administration in September, is expected to be bought by Spain’s Navantia, according to Sky News
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