Shipyard plan

McColl in surprise bid to regain control of Ferguson Marine

Jim McColl

Jim McColl: thought to have lodged bid

Scottish tycoon Jim McColl is seeking to regain control of the Ferguson Marine shipyard just weeks after he was forced to relinquish control to the Scottish government.

Interest in the Clyde yard has risen after it emerged that it would get spin-off work from a £1.25 billion UK government contract for frigates awarded to Rosyth.

Ministers are now operating Ferguson Marine with administrators at Deloitte following a dispute over rising costs on a £97 million contract to build two ferries for the state-owned service CalMac.

It is now reported that Mr McColl submitted a bid to buy back the yard before last week’s deadline for private buyers to come forward.

He may be joined by other partners as part of a consortium, according to The Sunday Times. Italian shipbuilder Fincantieri is another potential buyer.

The Scottish Government has made two loans totalling £45m for the ferries and a new owner is expected to find up to a further £70m to complete the contract.

3 Comments to McColl in surprise bid to regain control of Ferguson Marine

  1. Lot’s of great opportunities and challenges to emerge to enable the yard performance to be improved upon.
    Great opportunity for young people to grow their careers and still have something at the end that can stand on it’s own feet.
    Deloitte consultants running the shipyard ; gotta be kidding.
    There are many Ex Pats with lots of experience who could really assist this yard in getting to the next level. The D consultants will have the Op’s Folks head wrapped around PowerPoint graphs etc; etc.
    Bring in some experienced help at this time. And get the Managment systems in place to assist a paradigm shift in the management approach..

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