You can read 9 more articles this month
A TROUBLED Scottish shipyard will be nationalised after ministers failed to find a buyer.
SNP Finance Secretary Derek Mackay announced today that the Scottish government is “ready and willing to take Ferguson Marine into public ownership.” He said the move would “secure the continued employment of the workforce in the yard” and make sure ferries ordered by the state-owned CalMac were delivered.
Last week bosses at the yard served notice of their intent to put the Port Glasgow yard into administration with about 350 jobs at risk.
Ferguson Marine Engineering (FMEL) chief executive Gerry Marshall said the decision had been made “with great regret and disappointment.”
The yard had already received £97 million in government loans.
Mr Mackay said today: “The Scottish government has been working for over two years to find a resolution to the difficulties at FMEL.
“Throughout that time our preference has been to identify viable commercial options to keep the yard going and to finish the vessels. No such solutions have come forward.
“There remains a process to go through to secure the transfer of the yard to the Scottish government, and we are hopeful that all parties recognise the importance of completing that transfer as quickly and as smoothly as possible.”
“While we are open to engaging with any parties with a serious interest in investing in and securing a future for the shipyard, it is essential the government acts now to secure the completion of the ferries and continuity of employment at Fergusons.”
But Labour MP Paul Sweeney told the Star: “Instead of perfunctory tinkering and the state attempting to replicate the short-term, profit seeking behaviours of the private sector, the Scottish Government should be taking a much more long-term and strategic approach, which is an ethos at the heart of Labour’s industrial strategy for government.
“Just as Bi-Fab [yard] stands idle and unable to secure a significant share of the vast marine renewable fabrication work in demand off Scotland’s shores, and as 163 years of railway engineering in Springburn is abruptly allowed to be strangled by a foreign owned asset stripper while rail maintenance contracts flow out of the country, we see the Scottish Government standing by and failing to address the destruction of these vital industrial assets.”
You can’t buy a revolution, but you can help the only daily paper in Britain that’s fighting for one by joining the 501 club.
Just £5 a month gives you the opportunity to win one of 17 prizes, from £25 to the £501 jackpot.
By becoming a 501 Club member you are helping the Morning Star cover its printing, distribution and staff costs — help keep our paper thriving by joining!
You can’t buy a revolution, but you can help the only daily paper in Britain that’s fighting for one by become a member of the People’s Printing Press Society.
The Morning Star is a readers’ co-operative, which means you can become an owner of the paper too by buying shares in the society.
Shares are £1 each — though unlike capitalist firms, each shareholder has an equal say. Money from shares contributes directly to keep our paper thriving.
Some union branches have taken out shares of over £500 and individuals over £100.
You can’t buy a revolution, but you can help the only daily paper in Britain that’s fighting for one by donating to the Fighting Fund.
The Morning Star is unique, as a lone socialist voice in a sea of corporate media. We offer a platform for those who would otherwise never be listened to, coverage of stories that would otherwise be buried.
The rich don’t like us, and they don’t advertise with us, so we rely on you, our readers and friends. With a regular donation to our monthly Fighting Fund, we can continue to thumb our noses at the fat cats and tell truth to power.
Donate today and make a regular contribution.