Harland and Wolff shipyard rescued by London-based firm

The Harland and Wolff shipyard in Belfast has been rescued by London-based energy firm InfraStrata after it went into administration in August.

The iconic shipyard that built the Titanic was risking closure but has been saved in a £6.0m rescue deal to supply a gas storage project

The new management said it planned to retain the 79 staff still employed at the yard and potentially employ hundreds more.

InfraStrata said buying Harland and Wolff would lead to more in-house work, rather than outsourcing to contractors.

“Harland and Wolff is a landmark asset and its reputation as one of the finest multipurpose fabrication facilities in Europe is testament to its highly skilled team in Belfast,” said the InfraStrata chief executive, John Wood.

“This acquisition will clearly provide substantial advantages through vertical integration in addition to demonstrating our commitment to the Northern Irish economy, particularly in the post-Brexit era.”

Julian Smith, UK Secretary of State for Northern Ireland, welcomed the deal.

“I am delighted by the news that InfraStrata have purchased the Harland and Wolff shipyard and retained the skills and experience of the existing workforce,” he said.

“I firmly believe that the shipyard has a promising future and that InfraStrata’s plans present an exciting opportunity for both Belfast and Northern Ireland’s manufacturing and energy sectors.”