WORKERS at the last commercial shipyard on the Clyde may have to wait until next week to learn its fate, as insiders predicted its administration would be deferred.
Ferguson Marine Engineering in Port Glasgow took the first steps towards administration last Friday and had been expected to confirm the insolvency procedure by today.
However sources have told the Herald that, if no commercial saviour comes forward and administration is indeed the next step, it is now more likely to happen next week.
The Scottish Government said on Monday that it was “ready and willing” to nationalise the yard, where 350 jobs are at risk, following problems with a £97m ferry contract.
Jim McColl’s Clyde Blowers empire bought Ferguson’s out of administration five years ago this week, then landed a deal to build two innovative dual-fuel ferries for CalMac.
However the boats have been dogged by delays, design changes and disagreements over who should pay for a 100 per cent cost overrun.
Ferguson’s blame Caledonian Maritime Assets Limited (CMAL), the state-owned firm behind CalMac, which placed the ferry order for revising the specifications.
However CMAL insist Ferguson’s took on the work fully aware that it would be technically demanding.
The Herald understands key design staff recently left Ferguson’s for more secure jobs, meaning it could take an extra year to complete the ferries, which are already two years overdue.
SNP Finance Secretary Derek Mackay, who loaned Ferguson’s £45m of taxpayers’ cash to keep it afloat, is understood to want to take the yard into public ownership and replace the existing management.
Vic Emery, former managing director of BAE Systems warships division, is tipped as a possible new boss.
But local politicians and Mr McColl, who sits on the First Minister’s Council of Economic Advisers, are understood to oppose nationalisation in case it leads to stagnation.
Mr McColl’s frustration boiled over last Sunday when he accused ministers of “abusing their power” and failing to understand basic economics.
A source close to events told the Herald: “My understanding is that Clyde Blowers are refusing to sell their share in the yard to the government. So the government’s only option may be to withdraw their loan guarantees and force Ferguson’s into administration. This is going to end in court. It’s a shambles.”
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