Completion of acquisition of assets of Harland and Wolff
05 December 2019
Pictured L-R; BDO Partner, Michael Jennings, Director, John Young and Senior Manager, Chris Fleming at the Harland & Wollf site in Belfast.
Michael Jennings and Brian Murphy of BDO NI were appointed as Joint Administrators of Harland & Wolff Group Plc and Harland & Wolff Heavy Industries Limited (together “Harland & Wolff”) on Tuesday 6th August 2019.
Following the entering of a conditional contract on Friday 8th November with InfraStrata Plc and its wholly owned subsidiary Infrastrata Heavy Industries (now known as Harland & Wolff (Belfast) Limited), we are pleased to confirm the sale of the business has completed today, 5th December. The agreed terms of sale include the transfer of the remaining employees on their existing terms and conditions to the purchaser therefore protecting and safeguarding the employment of the workforce.
This has been an intense and challenging process. From the outset we have been cognisant of the need to ensure the continuity of the brand name, especially given its importance to Northern Ireland. We are delighted that InfraStrata has confirmed the Harland & Wolff name will live on. We built excellent relationships with both the unions and the employees who played a crucial role in the success of this venture. Without their support, today’s announcement may not have been possible. In particular, we would like to pay tribute to the determination and dedication of the staff who were willing to take a risk to secure the longer-term survival of the company.
The interest in the shipyard and our appointment has been both considerable and global. The team at BDO NI are proud to have played a role in this process and would like to wish the new buyer and all the employees every success as we look forward to the yard being back in full operation and growing again in the future.