Bids Are In For Struggling Cammell Laird

Wednesday, August 08, 2001
Accountancy firm PriceWaterhouseCoopers (PwC) said on Wednesday it had received a second management buyout bid for the U.K. shipyard assets of struggling shipbuilder Cammell Laird Plc, which has so far had to cut 600 jobs this year.

Cammell Laird entered into receivership after a series of cancelled orders hit its finances, causing it to suspend trading in its shares.

The second bid is spearheaded by former executives John Syvret and Brett Martin, a spokesman for the team said, and is for both the Birkenhead and the Tyneside yards.

"The bid was put in this morning," he said. PwC has already received a separate management buyout bid from a different team for the Birkenhead yard.

The current managing director of Cammell Laird Dave Gillan and Finance Director Steve Brookfield submitted the first bid to the receivers on Thursday, advisors to the bid, Ernst & Young, said.

PwC said in July the shipyards would be mothballed as work on current contracts comes to an end.


Tanker Trends

VLCC Delivered to Gener8 Maritime

Gener8 Maritime, Inc., a U.S.-based provider of international seaborne crude oil transportation services, announced that it has taken delivery of the ECO VLCC the Gener8 Macedon on August 30,

US Oil Output Seen on the Rise

Large U.S. shale oil companies, flush with cash raised through stock offerings, are gobbling up properties in the Permian Basin straddling Texas and New Mexico, a trend that could boost U.

Wärtsilä BWMS for Three Maersk Tankers

Maersk Tankers A/S of Denmark has selected Wärtsilä's Electro Chlorination (EC) Ballast Water Management System (BWMS) for three new 50,000 DWT medium range (MR)

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Pod Propulsion Salvage Ship Electronics Ship Repair Ship Simulators Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0482 sec (21 req/sec)