UK subsidiary of Spanish state-owned shipbuilder Navantia S.A., S.M.E., Navantia UK, has completed the takeover of Harland & Wolff.
The deal covers the four Harland & Wolff facilities in Belfast, Appledore, Methil and Arnish which employ around 1,000 people. The four facilities are located in Belfast (Northern Ireland), Appledore (Devon), and Methil (Fife) and Arnish (Western Isles).
Navantia UK agreed to buy the business in December with regulatory approvals required before the transaction could be finalised.
The transaction has now received all necessary regulatory approvals, with the company mentioning that all current employees have transferred to Navantia UK “with their existing terms and conditions preserved.”
Navantia UK thanked the UK government for its support throughout this process.
The company said the deal ensures the continuation of the Fleet Solid Support (FSS) programme, comprising three ships for the Royal Fleet Auxiliary to support the UK Carrier Strike Group.
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 defence, maritime and green energy sectors,” reads the company’s statement.
Ricardo Domínguez, chairman of Navantia, said: “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.”
Navantia UK claims that under its management “all four facilities will benefit from extensive expertise in shipbuilding, fabrication and complex programme management, supporting both a highly skilled workforce and robust supply chain.”
