Titanic shipbuilder Harland & Wolff is reportedly on the verge of falling into Spanish hands under a government-backed £70million rescue deal.
The company, which fell into administration in September, is expected to be bought by Spain’s Navantia, according to Sky News.
An announcement could come as soon as tomorrow and will include job guarantees. Harland & Wolff is best known for building the Titanic in Belfast and also runs the historic Appledore shipyard in Devon, as well as two sites in Scotland.
But the 163-year-old firm fell into administration after struggling to keep up with competitors.
H&W declined to comment. Navantia was contacted for comment.
Rescue deal: Harland & Wolff, which fell into administration in September, is expected to be bought by Spain’s Navantia, according to Sky News
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