Public ownership "an option" for Ferguson Shipyard

Finance Secretary Derek Mackay has confirmed that taking the Ferguson shipyard into public ownership is a viable option for the Scottish Government.

Last week, bosses at the yard served notice of their intent to put the Port Glasgow yard into administration - with around 350 jobs at risk.

Ferguson Marine Engineering chief executive Gerry Marshall said the move had been made "with great regret and disappointment''.

Economy Secretary Derek Mackay said: "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.

"The Scottish Government has now indicated to all relevant parties that we are ready and willing to take Ferguson Marine into public ownership and deliver the ferries to secure the continued employment of the workforce in the yard.

"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.

Mr Mackay added that the Government also expects the completion of vessels for CalMac after Ferguson Marine won a £97 million fixed-price contract.

The shipyard's owner, Jim McColl, has been critical of the Government over the public ownership proposals, suggesting there was "no economic sense'' in the move and that it would "damage the economy".

However, Mr Mackay said it could be a possible outcome following talks.

He said: "We'll have to wait and see what comes forward in terms of a viable commercial solution, I don't think there is one but we'll see if any investors come forward.

"Of course we would welcome that, we would welcome engagement and interest in the yard, but the reality here is that we want to see the completion of the vessels, we want to secure the jobs and give the yard a future.

"And of course we have an interest, we have involvement there and I think it's good for the wider economy as well and, as Finance Secretary, I'm saying that public ownership is indeed an option.

"There will be talks, of course they're commercially sensitive, but, yes, I do think that's a possible outcome."

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