Navantia UK, the British subsidiary of Navantia, has completed today the acquisition of the activities of Harland & Wolff in its four work centres, Northern Ireland (Belfast), England (Appledore) and Scotland (Methil and Arnish).
With this operation, Navantia ensures compliance with the FSS shipbuilding programme for the British Ministry of Defence and is equipping itself with industrial capabilities in the United Kingdom, taking a leap in its internationalisation.
Navantia UK will manage the four units, providing the group's extensive experience in shipbuilding, manufacturing and management of complex programmes, modernising and adapting its capabilities to the current needs of the naval and green energy sectors in the United Kingdom.
“This operation marks a significant milestone for Navantia. “It demonstrates our commitment to the FSS programme and Navantia UK's commitment to collaborating with UK industry to strengthen local capabilities,” said Navantia President Ricardo Domínguez.
“This new Navantia UK, with a workforce of 1,000 people, the track record and facilities of Harland & Wolff and Navantia's global experience, is a strategic asset for our company and a platform for growth,” he added.
The acquisition, which was completed once the necessary regulatory updates were obtained, was advised by independent firms to ensure that the operation was concluded in accordance with market business criteria. Alantra, Clifford Chance, TLT and KPMG, among others, have assisted Navantia in the negotiations and have prepared the necessary documents for the transaction.
