Spanish firm Navantia is set to acquire Harland & Wolff, the British shipbuilding company, in a deal that could safeguard over 1,000 jobs and integrate four sites into Navantia’s operations.
The acquisition includes Harland & Wolff’s sites in Belfast, Northern Ireland; Appledore, England; and Methil and Arnish, Scotland. Navantia UK stated that the deal aims to strengthen the UK’s industrial capacity in shipbuilding, defence, and offshore wind while supporting a skilled workforce and a resilient domestic supply chain.
Navantia UK currently leads the Fleet Solid Support (FSS) programme, which involves constructing three ships for the Royal Fleet Auxiliary. These vessels are being built across Harland & Wolff’s Belfast and Appledore facilities, as well as Navantia’s Puerto Real site in Spain. The company highlighted that incorporating Harland & Wolff’s facilities would help ensure the timely delivery of the FSS programme.
“This deal represents an opportunity to build on Harland & Wolff’s proud heritage and further strengthen the UK’s sovereign industrial capacity,” the press release stated.
The agreement, which remains subject to regulatory approval, is expected to be completed in January 2025. Navantia UK emphasised its commitment to the UK’s industrial base and its focus on long-term collaboration with the government to deliver strategic capabilities for the Royal Navy.
“The acquisition will strengthen Britain’s industrial capacity whilst preserving more than 1,000 jobs,” the company added.
Navantia, a state-owned company under Spain’s Sociedad Española de Participaciones Industriales (SEPI), brings extensive expertise in shipbuilding and programme management. The company also operates in renewable energy sectors, including offshore wind and green hydrogen, through its Navantia Seanergies brand.
Navantia UK framed the acquisition as a step towards reinforcing UK capabilities. The implications for the country’s shipbuilding industry will depend on the details of the final agreement and its implementation. Regulatory approvals will be a key factor in determining the outcome.
Secretary of State for Northern Ireland Hilary Benn has welcomed Navantia UK’s agreement to purchase all four Harland and Wolff shipyards, including its Belfast facility.
The deal has secured 1,000 UK jobs and ensured the delivery of the Fleet Solid Support Programme to build three Royal Navy ships.
In Belfast, around 500 jobs will be protected by the deal. The deal supports delivery of the UK Government’s Plan for Change, safeguarding national security while raising living standards across the UK with good, skilled, productive jobs which foster economic growth.
The Secretary of State for Northern Ireland said:
“This investment is great news for Belfast, for the Northern Ireland economy and, above all, for Harland and Wolff’s hugely skilled shipbuilding workforce. Harland and Wolff is an iconic, internationally-renowned company with a long and proud history. I am delighted that, with this deal, it will now have a bright future ahead.”
That headline has just won Christmas!! 😂😂
Just realised, duh, no one expects the Spanish Inquisition….
Brilliant headline – well done George
Indeed, Acquisition or Inquisition?
I really dont like the way the Spanish have been allowed to enter the UK market on several levels. It is a well known fact that the Spanish cheat with their state subsidies and plans funded by printing Euros illegally. Meanwhile our clueless politicians of both Major Parties have just let this happen; its not just Labour.
They have targeted Strategic UK assets like Heathrow and the Banking sector. How much more of our lunch are our clueless Poiliticans going to permit being eaten by foreign owners.
Reeves should take note that some of us are aware and angry that her last budget was specifically designed it seems, to work against British Private Ownership of Industry. Shame on her and idiotic PM Starmer crass class warfare. What next JCB? Tell us will anything now be possible? Its got to stop. Now they can quote for more of their faulty Warships to enter our Navy. Utterly Humiliating and all part of the Starmer plot to reenter the EU.
Not one single UK firm will buy H&W, they didn’t 20 years ago, didn’t 10 years ago and haven’t now. Navantia were the only ones willing to take it on and for them it’s a very sensible acquisition due to its location and facilities. The simple reason BAe and Babcock will not take H&W is down to the workforce and their 4 day working week, it’s a mantra there and they will be be made redundant rather than concede that point. If another UK firm takes it in then they have to align there T’s n C’s. So sorry but it’s nothing to do with the present set of muppets and the previous sheep would have had exactly the same issue.
The irony of this particular takeover is quite interesting, the origins of most of the modern Navantia yards goes back to the early 20th Century when Vickers bought them and modernised / regenerated them.
As for Bamfords it’s not a company you can just acquire by buying shares. It’s the largest privately owned family local firm in the UK and has turned down numerous offers to be taken over. I don’t know if you have ever visited the area but it’s very impressive when you see just how vast and modern it all is. And plastered with Union Flags.
Correct mate. 🎄Merry chrimbo
👍 😊 🙃🕳️.
And to yourself 🥳🎅🏻
No one wanted HW for a reason. The only people who took it on were a quite frankly a “going down the toilet” energy exploration company called infrastrata..it had essentially gone out of the energy exploration business and only had its gas storage side left it was dying and decided to make a huge gamble on buying up cheap the UK shipyards that nobody else wanted for pennies on the pound. It gamble it could then extract money from government contracts and get loans…if failed because it’s CEO and senior leaders we’re essentially chancers.
It’s not just the owners who are a bit dubious, I’d love to know how many times the workforce have been made redundant and if it was on SVS each time.
I’ve said this before but I’d have let it go bust, let the administrators pay the statutory minimum redundancy and then once it’s all settled buy the site / facilities back into public ownership. Then lease it to Navantia to manage this contract, we inject capital to modernise the infrastructure and employ / train a workforce on standard terms and conditions. Fact is this yard has a future pipeline of work FSS, MRSS and possibly take over the QE support contract.
Thanks George. This is good news for H+W, and UK ship building in general. (the alternative is)? 🎄 Merry Christmas to one & all 🎅❄️🎄🎉🙃🕳️Btth.
That was very good full marks
As soon as the FSS contract is finished, they’ll be up for sale again.
Maybe they can buy the pre-cooler from Reaction Engines as well. That tech mustn’t be allowed to go to waste, no matter how badly the company was managed.
(Yes I am being facetious, but I’m tired of British companies failing)
Elizabeth I must be rolling in her grave. It’s better than going bust, but selling off our strategic shipbuilding industry – even to our friends – is nuts.