The sale of an ailing Scottish shipyard could be completed in just two weeks after administrators named their preferred bidder.
Engineering giant Clyde Blowers Capital (CBC) was chosen out of the four bids received for the Ferguson yard, in Port Glasgow.
Talks are now taking place between CBC – founded by entrepreneur Jim McColl – and the administrators with a view to completing the sale of the last commercial shipbuilder on the River Clyde.
Mr McColl said Ferguson Shipbuilders had the potential to become a leading name in the marine engineering sector and work was already under way to “develop a plan to rebuild the business.
Ferguson, which dates back to 1902, went into administration earlier this month after experiencing “significant cash-flow pressure”
A total of 70 employees were immediately made redundant.
Announcing the choice of preferred bidder yesterday, Blair Nimmo, joint administrator and head of restructuring at KPMG in Scotland, said: “We would like to thank all parties who expressed an interest in securing the heritage and future of Ferguson Shipbuilders.
“There are still ongoing discussions to be had with Clyde Blowers, however, we are now confident a sale can be achieved quickly.”
He added: “This is a positive first step towards the potential resumption of shipbuilding and ship repair activities at Port Glasgow.
“We would also like to thank all parties for their continued support and patience during a challenging time for all concerned – employees, shop stewards, union representatives, the Scottish Government, Inverclyde Council and local elected members.”
First Minister Alex Salmond said: “I am delighted that Clyde Blowers Capital has been named the preferred bidder for the Ferguson’s yard.
“Jim McColl’s company is one of Scotland’s greatest job creators, and I will be meeting with the company, the workforce and shop stewards to ensure there will be a long-term future for shipbuilding at Ferguson’s for years to come.
“I have spoken to the administrator today, and I’d like to thank him for the speed with which he has moved to try and secure a successful outcome.”