Harland and Wolff win first contract since takeover

The new contract is for annual inspection and maintenane on two vehicles

InfraStrata said it means the yard will be utilised from December 20th until the work is complete in January

InfraStrata said it means the yard will be utilised from December 20th until the work is complete in January

 

Harland and Wolff has won its first contract since it was taken over by the London-listed group InfraStrata.

The new parent company of the historic Belfast shipyard said that Harland and Wolff had secured a contract for the “dockings of two vessels for their owners to carry out their annual inspections and maintenance”.

No details of the organisation that owns the vessels or the value of the contract was disclosed.

But InfraStrata said it means the yard will be utilised from December 20th until the work is complete in January.

John Wood, interim chairman and CEO of the company, said: “The award of this contract is a crucial milestone in the life-cycle of the company. The board committed to being revenue generating in 2019 and has now fulfilled that commitment to shareholders.

“The fact that the completion of the acquisition of the assets of Harland and Wolff was immediately followed by a revenue generating contract validates this acquisition. This is the beginning of a transformational shift in the company’s position to being revenue generative and ultimately cash-positive in the future.”

Harland and Wolff has the largest dry dock facility in the UK, which in the past has attracted significant business to the yard. In 2018 the Newry headquartered group MJM based a £50 million cruise ship refit project at the east Belfast shipyard.

Last month, the London listed company also indicated that it could be set to bring major shipbuilding projects back to Belfast when it announced potential plans to work with Navantia, the Spanish state owned shipbuilding company.

InfraStrata has signed a Memorandum of Understanding (MoU) with Navantia which it intends to follow up with a more formal Teaming Agreement which could result in both organisations working together on a number of infrastructure and marine projects.