Cammell Laird Receives An Offer For Teesside

Wednesday, May 23, 2001
Cammell Laird, which is in receivership, has had an offer to buy its Teesside yard in northeast England, giving a glimmer of hope for workers fearing further job cuts. "An offer to take over the Teesside yard only has been received. Negotiations continue," a spokeswoman for accountancy firm PricewaterhouseCoopers, acting as receivers, said. Cammell Laird, whose main yard was established in 1824, announced over 500 job cuts in recent months after it entered receivership when a series of cancelled orders hit its finances, causing it to suspend trading in its bonds and shares. The decline in its fortunes echoed those of the British shipbuilding industry as a whole. Cammell Laird said last month that it would mothball the Teesside plant. The receivers' spokeswoman said the offer was for the site in its current state, but she declined to provide further details. Press reports have said venture capital firms Alchemy Partners and Patron Capital, along with rival UK shipbuilder Swan Hunter, are potential bidders for parts of Cammell Laird. - (Reuters)

People & Company News

MN100: MarineCFO

The Company: Founded in 1992, UA Business Solutions was a pioneer in the field of Enterprise Resource Planning (ERP) and an early Microsoft Partner. The ERP evolution

MN100: All American Marine, Inc.

The Company: All American Marine Inc. was founded in 1987 and specializes in the construction of custom tailored aluminum boats from 30 to 150 feet LOA. Today,

Five Minutes with Paul Switzer

Five minutes with Paul Switzer - Manager, Shipbuilding & Offshore, Viega   For readers not familiar with Viega, please give a ‘birds eye’ view, putting the company

Shipbuilding

MN100: All American Marine, Inc.

The Company: All American Marine Inc. was founded in 1987 and specializes in the construction of custom tailored aluminum boats from 30 to 150 feet LOA. Today,

ACE Winches Bags Order from Vard

Deck machinery specialist ACE Winches said it has been awarded a spooling contract with Vard Group AS for Norway’s largest construction vessel.   The scope of work includes the spooling of two 3,

Five Minutes with Paul Switzer

Five minutes with Paul Switzer - Manager, Shipbuilding & Offshore, Viega   For readers not familiar with Viega, please give a ‘birds eye’ view, putting the company

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Ship Electronics Ship Repair Ship Simulators
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: 0.0770 sec (13 req/sec)