Displaying items by tag: H&W for sale

21st December 2018

For Sale As Harland & Wolff's Norwegian Owner Fred Olsen Instigates Restructuring Process

Takeover deal for the world-famous manufacturer, Harland & Wolff, would represent one of the biggest NI corporate transactions in recent years. AFLOAT adds Anvil Point was the last ship built at the Belfast yard in 2003. A decade later, the ro-ro ship became surplus to the UK's Ministry of Defence (MoD) requirements.

#BelfastLough - A famous icon of Belfast, Harland & Wolff is up for sale as its Norwegian parent company Fred Olsen carries out a major restructuring.

The former shipbuilder behind the Titanic reports The Belfast Telegraph, has diversified into renewable energy installations since the last ship sailed out of its famous yard in 2003.

The decline of shipbuilding has also been marked by a steady fall in employee numbers from as many as 30,000 in the 1930s to around 100 today.

Harland & Wolff: Shipbuilder an enduring chapter of Belfast story for more than 150 years

A sale would mark one of the biggest corporate transactions in Northern Ireland in recent years after three decades in the ownership of Fred Olsen.

Harland &Wolff covers two sites on Queen's Island in east Belfast, including the Belfast Repair Dock where some ship work is still carried out.

There is also the main building dock and manufacturing halls where the famous Samson and Goliath gantry cranes operate.

The combined surface area of the sites is nearly 90 acres.

The building dock is the biggest in Europe, and one possible use is for the construction of next generation very large vessels in excess of 500,000 tonnes.

Yesterday a spokesman said: "Harland & Wolff Heavy Industries Ltd can confirm that as part of wider restructuring activities, it is engaged in a marketing process that may lead to a potential sale of the business.

"The day to day running of the company is unaffected."

For much more on this development,click here.

Published in Belfast Lough

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