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Cammell Laird Plc News

20 Aug 2001

The Axe Continues to Swing at Cammell Laird

Insolvent British shipbuilder Cammell Laird Plc is cutting a further 117 staff, a spokesman for its receivers PricewaterhouseCoopers told Reuters on Monday. The spokesman said 34 jobs out of 59 were being shed at its Tyneside operation in northeast England while 83 of 136 jobs were being cut at Birkenhead in northwest England. Cammell Laird went into receivership in April after a series of cancelled orders hit its finances. Earlier this month, the firm, a symbol of the decline in British shipbuilding, announced it was axing 330 jobs on top of more than 600 job cuts made earlier in the year. Last Friday, ship repair outfit A&P Group Holdings bought the plant and equipment of each of Cammell Laird's yards at Birkenhead, Tyneside and at Teeside, also in northeast England.

20 Jun 2001

Can Cammell Laird Teeside Be Saved?

Struggling British shipbuilder Cammell Laird Plc, which has had to axe nearly 600 jobs after entering receivership earlier this year, has accepted an offer by one of its former executives to buy one of its yards. A spokeswoman for accountancy firm PricewaterhouseCoopers, acting as receivers for the group, said on Wednesday that contracts were being negotiated for the buyout offer for the yard at Teesside, northeast England. She declined to give financial details of the agreed deal with former Cammell Laird executive Eric Welsh, and declined to comment on whether the offer could lead to jobs being saved. "We have accepted his offer and contracts are being drawn up," she stated.

05 Jul 2001

Cammell Laird Cuts Another 71

Struggling shipbuilder Cammell Laird Plc, which has entered into receivership, is to cut a further 71 jobs in Britain on the back of over 600 previously announced redundancies. A spokeswoman for accountancy firm PricewaterhouseCoopers (PwC), acting as receivers for the group, said that the latest job cuts had arisen after the shipbuilder completed work on existing contracts. Cammell Laird, whose main yard was established in 1824, called in the receivers after a series of cancelled orders hit its finances, causing it to suspend trading in its shares. The decline in its fortunes marked a further fall in Britain's once-proud shipbuilding industry.

27 Jun 2001

Management Buyout Proposed For Cammell Laird Yard

Cammell Laird Plc has axed another 146 jobs in the U.K., but a proposed management buyout of one of its yards held out the prospect on Wednesday of saving hundreds more. Cammell Laird, which called in the receivers in April, has announced over 600 job cuts in Britain this year after a series of cancelled orders hit its finances. A spokeswoman for accountancy firm PricewaterhouseCoopers (PwC), acting as receivers for the group, said that a management team had made an indicative offer for the Tyneside shipyard in northeast England. And PwC expects another management offer for Cammell Laird's plant at Birkenhead, northwest England, which was first established in 1824. The company has a current UK workforce of around 770.

06 Jun 2001

Cammell Laird Slashes 93 More Jobs

Struggling shipbuilder Cammell Laird Plc is to cut a further 93 jobs in Britain on the back of over 500 redundancies announced earlier in the year after the group entered into receivership. A spokeswoman for accountancy firm PricewaterhouseCoopers, acting as receivers for the group, said on Wednesday that 82 jobs would go at its plant in Tyneside, northeast England. The rest of the job cuts would take place at the Birkenhead and Teesside plants in northern England. She added that the cuts had arisen since Cammell Laird had completed work on two major contracts and so no longer needed the workers. Cammell Laird, whose main yard was established in 1824, entered receivership when a series of cancelled orders hit its finances, causing it to suspend trading in its shares.

11 Jul 2001

Cammell Laird Axes 187 More Jobs

Struggling shipbuilder Cammell Laird Plc, which is in receivership, has announced a further 187 jobs cuts in Britain on top of over 600 previously announced redundancies. Accountancy firm PricewaterhouseCoopers (PwC), acting as receivers for the group, said on Wednesday that the latest cuts would see 95 jobs go at Tyneside, northeast England, and 45 redundancies at Birkenhead, northwest England. The company, which currently employs just under 700 workers in the U.K., called in the receivers after a series of cancelled orders hit its finances, causing it to suspend trading in its shares. The decline in the fortunes of Cammell Laird, whose main yard was set up in 1824, marked a further fall in Britain's once-proud shipbuilding industry.

08 Aug 2001

Bids Are In For Struggling Cammell Laird

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.

02 Aug 2001

Cammell Laird Continues To Struggle; Cuts 330 More Jobs

Struggling shipbuilder Cammell Laird Plc is to cut a further 330 U.K. jobs on top of over 600 job cuts set in motion earlier this year after it entered into receivership following a series of cancelled orders. Accountancy firm PricewaterhouseCoopers (PwC), acting as receivers for the group, said on Thursday that 153 jobs would go at Cammell's Birkenhead plant in northwest England. It said 166 job cuts will also take place at the company's Tyneside plant in northeast England, while 11 workers will also be made redundant at the nearby Teesside yard.

07 Aug 2001

Cammell Laird Cuts 42 Jobs

Cammell Laird Plc is cutting a further 42 jobs on top of the more than 930 it has already axed this year after it entered into receivership following a series of cancelled orders, a company spokeswoman said The cuts at the company's Birkenhead plant in northern England, will leave 150 workers at the yard. Cammell plans to mothball all three of its British yards. At its Tyneside and Teeside yards there are 70 workers and one worker left, respectively. - (Reuters)