Acquisition of Additional Facilities for Revival of Harland & Wolff
The parent company of the historic Harland & Wolff shipyard group announced a further expansion of the company's capabilities with the purchase of additional fabrication facilities in Scotland as they work to revive Harland & Wolff and enter the offshore renewable energy sector. The latest acquisition, located on both of the Scottish coasts adds 25,000 m2 of undercover fabrication capacity, a total of 580,000 m2 of area, and 24,000 tons of quayside load-out capabilities to Harland & Wolff.
InfraStrata, which acquired Harland & Wolff in December 2019, reported that it acquired assets of the former Burntisland Fabrication Limited from the administrators for a total payment of approximately $1.18 million, of which two-thirds was upfront and one-third when substantial revenues are generated. Last summer they also acquired the Appledore shipbuilder’s facilities in Devon, England.
According to the company, the latest acquisition represents the final fabrication piece of its UK footprint, positioning the company to fully deliver on its strategy quicker than it would have done with only its two existing sites. The newly acquired facilities in Fife and the Isle of Lewis are attractive as they have waterfront sites that are capable of loading and launching activities and are near an array of wind farm projects currently ongoing and planned in the Irish Sea and the North Sea.
"I am very pleased to have completed the acquisition of the assets of Bifab, which is in keeping with our stated strategy of capitalizing on complementary opportunities when they present themselves,” said John Wood, CEO of InfraStrata. “With this acquisition, we now have a footprint in Scotland, which is the hotbed for major wind farm projects as well as for shipbuilding programs. We have now positioned ourselves strategically across the UK, with four sites capable of servicing our five core markets."
The acquisitions are part of the company’s overall strategy to transition away from its heritage in the gas industry into offshore renewable energy. The portfolio of fabrication capabilities positions Harland & Wolff to fulfill the U.K.’s government’s requirements of U.K. elements in bidding for offshore wind contracts including domestic construction and assembly. The shipyards are also bidding for repair work from the shipping industry as they seek to build their portfolio of work.