Harland and Wolff sale completed - Belfast shipyard is now in the hands of Spanish state company
The sale of Harland and Wolff to its new owner has now been completed.
It was revealed back in December that Navantia, a Spanish state-owned entity, had agreed to take it over.
However, the deal was “subject to completion and regulatory approvals”.
Today, the following announcement was made by the company: “Navantia UK today announces the completion of its acquisition of Harland & Wolff’s facilities in Belfast, Appledore, Methil and Arnish, protecting more than 1,000 jobs across the four sites and strengthening Britain’s defence, maritime and clean energy industrial capabilities…
"Navantia UK extends its gratitude to His Majesty’s Government for its support throughout this process, which has helped secure this strategic investment in UK industrial capability.
"The transaction has received all necessary regulatory approvals. All current employees have transferred to Navantia UK with their existing terms and conditions preserved.”
It also quoted Ricardo Domínguez, company chairman, as saying: “The completion of this acquisition marks a significant milestone for Navantia UK and demonstrates our long-term commitment to UK industry.
"By combining Harland & Wolff’s proud heritage and facilities with Navantia’s global expertise in defence, maritime and renewable energy, we are creating an exceptional platform for growth.”
About 650 of those 1,000 jobs are in Belfast, with the rest spread across the sites in Scotland (Methil and Arnish) and Devon (Appledore).
At the time the acquisition was announced in December, Dr Esmond Birnie told the News Letter "it's probably as good as could be done under the circumstances".
He said that despite H&W going into administration twice in five years, there is no "inevitability" to the closure of the shipyard in the long term.
He also said that the fact a chunk of the UK's defence capabilities has now been placed in foreign hands is not really a concern, because Spain is a NATO ally.