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HARLAND & WOLFF PURCHASER SIGNS MoU WITH SPANISH SHIPYARD

Thursday, November 21, 2019 

InfraStrata, the UK company that has expressed interest in purchasing the Northern Ireland-based Harland & Wolff shipyard, says it has entered into a Memorandum of Understanding with Spanish shipbuilding company Navantia.

The MoU is said to be the first step towards formalising a Teaming Agreement with Navantia, under which, both companies will work together on a multitude of infrastructure and marine projects to take them to commercial fruition.

Subject to completion of the acquisition of the assets of Harland and Wolff, as previously announced, the MoU envisages utilising the assets of Harland & Wolff for the purposes of providing a range of services to Navantia. These services include, inter alia, supporting Navantia in its proposed tender for contracts to provide three new Fleet Solid Support (FSS) ships for the Royal Fleet Auxiliary, with the view to performing certain fabrication works at Harland & Wolff. Additionally, both parties will co-operate on opportunities in the offshore wind renewables sector as well as in other marine/offshore and onshore infrastructure projects.

The parties concerned have begun discussions to formalise the non-binding MoU via a binding Teaming Agreement.

John Wood, Interim Chairman and CEO, commented: “We are very excited by the opportunity that this MoU presents InfraStrata and the Harland & Wolff business. Navantia is world renowned for its ship-building capabilities and offshore infrastructure expertise and experience, and therefore has access to significant commercial opportunities in these sectors. The combination of Navantia’s footprint in these sectors and Harland and Wolff’s fabrication and other support capabilities offers the ideal commercial environment to bring large and challenging projects to successful fruition.”

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