Getty ImagesNavantia is the “type of company” the Northern Ireland Executive would like to see buying Harland and Wolff, the Economy Minister has said.
The Spanish shipbuilder is in exclusive talks aimed at reaching a deal to take over the Harland and Wolff shipyards.
The main yard is in Belfast with additional operations at Appledore in England and Methil and Arnish in Scotland.
Conor Murphy said he did not want to pre-empt a deal but that an experienced shipbuilder taking control would be a good outcome.
‘Invest and retain the staff’
PA Media“It’s that type of company we would have been thinking about, one that is in that game, has the wherewithal to invest and retain the staff,” Murphy said.
Navantia, which is owned by the Spanish state, already has a business relationship with Harland and Wolff.
It is the main contractor on a project to build three support ships for the Royal Navy with Harland and Wolff acting as subcontractor.
Its main shipyard is at Cadiz in southern Spain where it has the majority of its 4,000 employees.
Royal Navy fleet renewal
Angel Garcia/Bloomberg via Getty ImagesLast month Harland and Wolff’s holding company collapsed into administration while the separate operational companies which run the yards continue to trade.
A defence expert has told BBC NI that Navantia may see a long term advantage in owning UK yards as the Royal Navy renews parts of its fleet.
Tim Ripley said: “There is an order coming at the start of the next decade for replacement amphibious ships. That’s five ships, quite a big deal.
“Navantia owning a UK yard would put them in the running.”
Dual market access – Murphy
Meanwhile Murphy has been visiting Germany to promote “dual market access”, which is a consequence of the Northern Ireland’s Brexit deal.
It means that Northern Ireland manufacturers have better access to the EU single market than firms based in GB, while also retaining full access to the UK market.
Murphy said he wants to increase understanding of the arrangement and how it could benefit inward investors.
He said there was an awareness that Northern Ireland has a particular post-Brexit arrangement but more work is needed to help businesses understand the details.
“The purpose of the trip was a recognition that there is more explanation to be done so that people are fully aware and the intent is to roll this programme out across Europe.”