Marine Link
Friday, October 21, 2016

Bid to Rescue Clyde Shipbuilder Ferguson

August 22, 2014

Scots flag: File image

Scots flag: File image

Jim McColl, one of Scotland's richest men, has tabled a bid to rescue collapsed Clyde shipbuilder Ferguson and aims to return the yard to its former glory by creating hundreds of jobs, according to HeraldScotland.

The engineering tycoon, who saved about 550 jobs at Weir Pumps in Glasgow in 2007 by buying that business from Weir Group (42W.SG), is pledging to invest many millions of pounds in the yard at Port Glasgow if his offer is accepted by ­administrators.

Ferguson, which was founded in 1902 and is the last commercial shipbuilder on the Clyde, collapsed into administration last week, with 70 of the remaining 77 employees made redundant reports HeraldScotland online.

Mr McColl, who has told the Scottish Government of his hopes of rescuing the yard, sees a bright future for Ferguson in building ferries and working on vessels for the oil and gas and renewable energy sectors,

Source: HeraldScotland

Maritime Reporter Magazine Cover Oct 2016 - Marine Design Annual

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News