{"id":4313,"date":"2019-10-02T16:10:34","date_gmt":"2019-10-02T15:10:34","guid":{"rendered":"https:\/\/blogs.gov.scot\/scotlands-economy\/?p=4313"},"modified":"2019-10-02T16:10:34","modified_gmt":"2019-10-02T15:10:34","slug":"update-on-ferguson-marine-2","status":"publish","type":"post","link":"https:\/\/blogs.gov.scot\/scotlands-economy\/2019\/10\/02\/update-on-ferguson-marine-2\/","title":{"rendered":"Update on Ferguson Marine"},"content":{"rendered":"

The Scottish Government has begun legal discussion with administrators to conclude the process of taking the Ferguson Marine shipyard into public ownership.<\/span><\/p>\n

Following a sale of business process, administrators have concluded that three indicative offers for the business received from commercial parties are either not capable of being executed or do not represent a better outcome for creditors than a sale of the business to the Scottish Government.<\/span><\/p>\n

Administrators are now in discussion with Scottish Ministers to agree final terms of a sale and expect this to be executed within the next four weeks.<\/span><\/p>\n

Employees at the Inverclyde yard were informed of the latest position today.<\/span><\/p>\n

Economy Secretary Derek Mackay said:<\/span><\/p>\n

\u201cWe have always been clear that we want to complete the vessels, secure jobs and give the yard a future. Administrators have concluded that despite other bids being submitted for the yard, the Scottish Government\u2019s offer presents the best outcome for creditors.<\/span><\/p>\n

\u201cWe are working with the administrators to bring the yard into public ownership. I will be there on Monday to meet with the excellent workforce and reiterate the Scottish Government\u2019s commitment to achieving the best possible outcome for the yard and its employees.<\/span><\/p>\n

\u201cWhile there is still more to be done, our actions have ensured that there will be a future for Fergusons.\u201d<\/span>\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

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