Preferred bidder announced for Ferguson businesses

Blair Nimmo and Tony Friar of KPMG LLP, the administrators of Ferguson Shipbuilders, Newark Joiners and Ferguson-Ailsa say that four bids were received, with Clyde Blowers Capital chosen as preferred bidder. The Joint Administrators will now be working with the preferred bidder with a view to completing the sale as soon as possible but this is expected to be within 14 business days.

Mr Nimmo said: “We would like to thank all parties who expressed an interest in securing the heritage and future of Ferguson Shipbuilders. There are still ongoing discussions to be had with Clyde Blowers, however, we are now confident a sale can be achieved quickly. This is a positive first step towards the potential resumption of ship building and ship repair activities at Port Glasgow. We would also like to thank all parties for their continued support and patience during a challenging time for all concerned – employees, shop stewards, union representatives, the Scottish Government, Inverclyde Council and local elected members.”

Jim McColl, chairman and CEO of Clyde Blowers Capital said: “We are pleased to have been selected as the preferred bidder for Fergusons which we believe has the potential to grow into a leading marine engineering business. Work is now underway to develop a plan to rebuild Fergusons. We look forward to working with all the key stakeholders in that rebuilding process.”