Navantia UK, a subsidiary of Spanish state-owned shipbuilding company Navantia, has completed the acquisition of Harland & Wolff’s facilities in Belfast, Appledore, Methil and Arnish.
As disclosed, the four facilities are located in Belfast (Northern Ireland), Appledore (Devon), Methil (Fife) and Arnish (Western Isles).
Under Navantia UK’s management, all four facilities are said to benefit from ‘extensive expertise’ in shipbuilding, fabrication, and complex program management, supporting both ‘a highly skilled workforce and a robust supply chain’.
According to Harland & Wolff, the transaction will ensure the continuation of the Fleet Solid Support (FSS) program, comprising three ships for the Royal Fleet Auxiliary to support the UK Carrier Strike Group.
The company will deliver three support ships for the Royal Fleet Auxiliary under the program.
These vessels will be built at the Belfast and Appledore facilities alongside Navantia’s facilities in Spain. Navantia UK plans significant development of the yards for the defense, maritime, and green energy sectors.
“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,” Ricardo Domínguez , Chairman of Navantia, said.
The transaction has received all necessary regulatory approvals. All current employees have transferred to Navantia UK with their existing terms and conditions preserved.
The transaction was supported by independent advisers Alantra, Clifford Chance, TLT, and KPMG among others, who assisted Navantia with commercial negotiations and documentation.
To remind, at the beginning of this year, Navantia revealed it is in discussions to purchase Harland & Wolff’s operations across four sites.