Bid to Rescue Clyde Shipbuilder Ferguson

By George Backwell
Friday, August 22, 2014
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, 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 October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Egypt Eyes Suez Container Port Renegotiation

Egypt is trying to renegotiate an extension of an agreement worth $1.5 billion with Suez Canal Container Terminal which has a concession to run a port near the entrance to the canal,

Maersk Drilling gets Extension for Jack-Up

Maersk Drilling, is a unit in shipping and oil conglomerate A.P. Moller-Maersk. Hess has exercised the four one-well options included in the current contract for the jack-up rig Maersk Resolute.

India Seeks Private Cash for Intermodal Bridge

Rail system needs more tracks and wagons; Not enough coal gets from port to power stations. India is targeting up to $1 billion of private investment by 2017

Shipbuilding

Fincantieri Sign MoUs with Carnival & CSSC

Fincantieri, the world leader in the construction of cruise ships, has signed two memorandums of understanding, respectively with Carnival Corporation, the world’s largest cruise line,

MHI Receives "Best IR Award"

Mitsubishi Heavy Industries, Ltd. (MHI) has received one of this year's "Best IR Awards" presented annually by the Japan Investor Relations Association (JIRA).

Steven Palazzo Visits HII, Newport

Huntington Ingalls Industries today hosted Rep. Steven Palazzo, R-Miss., for a tour of the company's Newport News Shipbuilding division. Palazzo represents the fourth district of Mississippi,

Finance

Egypt Eyes Suez Container Port Renegotiation

Egypt is trying to renegotiate an extension of an agreement worth $1.5 billion with Suez Canal Container Terminal which has a concession to run a port near the entrance to the canal,

Maersk Drilling gets Extension for Jack-Up

Maersk Drilling, is a unit in shipping and oil conglomerate A.P. Moller-Maersk. Hess has exercised the four one-well options included in the current contract for the jack-up rig Maersk Resolute.

India Seeks Private Cash for Intermodal Bridge

Rail system needs more tracks and wagons; Not enough coal gets from port to power stations. India is targeting up to $1 billion of private investment by 2017

People in the News

Egypt Eyes Suez Container Port Renegotiation

Egypt is trying to renegotiate an extension of an agreement worth $1.5 billion with Suez Canal Container Terminal which has a concession to run a port near the entrance to the canal,

Maersk Drilling gets Extension for Jack-Up

Maersk Drilling, is a unit in shipping and oil conglomerate A.P. Moller-Maersk. Hess has exercised the four one-well options included in the current contract for the jack-up rig Maersk Resolute.

India Seeks Private Cash for Intermodal Bridge

Rail system needs more tracks and wagons; Not enough coal gets from port to power stations. India is targeting up to $1 billion of private investment by 2017

 
 
Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Navigation Pipelines Pod Propulsion Salvage Ship Electronics Ship Simulators Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.3396 sec (3 req/sec)