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21/06/2002
Plan gives Harland & Wolff a 'fighting chance'
Sir Reg Empey, the Minister for Enterprise, Trade and Investment, has said plans to sell off land at Harland & Wolff in Belfast gives the shipbuilding company its best opportunity for survival.
The historic shipbuilding company based in Belfast’s Titanic Quarter has been deeply submerged in debt-filled waters for several years and announced this year they would be cutting more jobs in a an effort stave off complete closure.
However, a plan to sell off 80 acres of H&W land and down size operations in the Titanic Quarter was developed in April this year received a seal of approval from the Regional Development Minister Peter Robinson and Sir Reg Empey.
The company, together with Titanic Properties, Fred Olsen Energy, and Belfast Harbour Commissions are now engaged in drawing up final arrangements to dispose of the 80 acres of land.
Speaking after a visit to the company yesterday, Sir Reg Empey said: “After several tense months, agreement was reached with Titanic Quarter Limited to facilitate the redevelopment of 80 acres of land no longer required for shipbuilding purposes. The conclusion of the deal will allow the company to move ahead with plans to concentrate its business on a smaller, more efficient site.
“Having spent time with Harland and Wolff getting to this point last month, I was keen to find out at first hand how work at the shipyard is progressing in this transitional period, particularly on steps to implement the business plan.
“I believe the Plan gives the shipyard a fighting chance of survival. It offers the best opportunity for the company to become more compact, better focused and to have the best chance to succeed in what is a very competitive international market.”
During his visit, the Minister took the opportunity to go on board one of the two roll-on roll-off ferries presently under construction for the Ministry of Defence. The first of these is due to commence sea trials this summer, with delivery planned for September, while the second should be completed by January 2003.
“I was very pleased to see that work on the two vessels currently under construction was well advanced and to hear that they will be delivered on time,” the Minister added.
(AMcE)
The historic shipbuilding company based in Belfast’s Titanic Quarter has been deeply submerged in debt-filled waters for several years and announced this year they would be cutting more jobs in a an effort stave off complete closure.
However, a plan to sell off 80 acres of H&W land and down size operations in the Titanic Quarter was developed in April this year received a seal of approval from the Regional Development Minister Peter Robinson and Sir Reg Empey.
The company, together with Titanic Properties, Fred Olsen Energy, and Belfast Harbour Commissions are now engaged in drawing up final arrangements to dispose of the 80 acres of land.
Speaking after a visit to the company yesterday, Sir Reg Empey said: “After several tense months, agreement was reached with Titanic Quarter Limited to facilitate the redevelopment of 80 acres of land no longer required for shipbuilding purposes. The conclusion of the deal will allow the company to move ahead with plans to concentrate its business on a smaller, more efficient site.
“Having spent time with Harland and Wolff getting to this point last month, I was keen to find out at first hand how work at the shipyard is progressing in this transitional period, particularly on steps to implement the business plan.
“I believe the Plan gives the shipyard a fighting chance of survival. It offers the best opportunity for the company to become more compact, better focused and to have the best chance to succeed in what is a very competitive international market.”
During his visit, the Minister took the opportunity to go on board one of the two roll-on roll-off ferries presently under construction for the Ministry of Defence. The first of these is due to commence sea trials this summer, with delivery planned for September, while the second should be completed by January 2003.
“I was very pleased to see that work on the two vessels currently under construction was well advanced and to hear that they will be delivered on time,” the Minister added.
(AMcE)
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