A buyer has been announced for the troubled BiFab business.
The administrator of Scottish manufacturing company Burntisland Fabrications Limited said today it has confirmed the sale of the business and assets to Harland & Wolff (Methil) Limited, a subsidiary of Infrastrata Plc.
BiFab has two sites in Fife and one on the Isle of Lewis and entered administration in December, two years after a deal in which Canadian firm DF Barnes acquired the business for the sum of £4.
The Scottish Government invested £37m in the firm and became a minority shareholder.
READ MORE: Lack of 'transparency' fears over Scottish Government bailing out BiFab
Gavin Park, restructuring director at Deloitte, said: “We are pleased to have agreed a sale of the business and the majority of the assets of BiFab to Infrastrata.
"This includes the transfer of all employees and licenses to occupy sites in Methil and on the Isle of Lewis. We wish them every success in the future.”
The Unite and GMB trade unions welcomed the announcement.
Unite Scotland Secretary Pat Rafferty and GMB Scotland Secretary Gary Smith said in a joint statement that the move "is also testimony to our members and their communities who have fought hard to keep these yards alive".
Chocolatier in switch to Port Edgar
Portobello-based Coco Chocolatier has revealed major expansion plans which will see it create a manufacturing facility and visitor centre at a new base in South Queensferry.
Regeneration leader urges towns to grasp a new vision for the future
Failing shopping centres should be seen as the “one big opportunity” to revitalise struggling town centres around Scotland.
Sign up
You can now have the bulletin and the top business news stories sent direct to your email inbox twice-daily, and Business Week for the weekly round-up on Sunday:
https://www.heraldscotland.com/my/account/register/
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules hereLast Updated:
Report this comment Cancel