The Ferguson Shipyard has officially been taken into public ownership, the Scottish Government has announced.
The historic Port Glasgow yard will now be known as Ferguson Marine (Port Glasgow) Ltd after administrators decided three commercial offers for the premises did not “represent a better outcome for creditors” than the Scottish Government’s bid.
READ MORE: Contract signed to nationalise last civilian shipyard on the Clyde
Bosses at the yard signalled their intention to call in administrators in August following a long-running dispute with Caledonian Maritime Assets Ltd over the delivery of two ferries.
Employees at the yard have been informed of the sale.
Economy Secretary Derek Mackay said: “We have been working for over two years to find a resolution to the difficulties at Ferguson Marine and our priorities remain the completion of the two CalMac ferries, protecting jobs, and securing a future for the yard.”
READ MORE: Ferguson Marine shipyard warns it is on brink of administration
“In the absence of a workable commercial solution the administrators have concluded that public ownership is in the best interests of the creditors.
“Now that this has been confirmed, I am determined that we continue to work closely with everyone at the yard to progress work on the vessels and achieve the best possible outcome for the yard and its employees.”
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