DF Barnes, a subsidiary of Canadian company JV Driver, has acquired fabricator BiFab, as part of a deal brokered by the Scottish government.
The Canadians will bring project expertise and financial security to BiFab, which has yards at Methil and Burntisland in Fife and Arnish in the Western Isles, the government said.
The government will take a minority share in the new company as part of the deal to “demonstrate continued commitment to supporting the future of the yard”.
First Minister Nicola Sturgeon and Economy Secretary Keith Brown oversaw the negotiations for the Scottish government.
Sturgeon said: “We are delivering on the commitment I made last year that we would stand by BiFab and work to secure a long term future for the company.
“We have been in negotiations with DF Barnes for a number of months and today is a significant step forward in our efforts to restore BiFab to its place at the centre of Scotland’s marine energy industry.
“There is a lot of hard work ahead, and there is no magic bullet for these yards but the commitment of DF Barnes to securing a new future for the business at Burntisland, Methil and Arnish is a hugely positive step and I believe that gives BiFab the best chance of winning future contracts and securing new work.”
DF Barnes business development vice president Sean Power said: “We are looking forward to a long and successful partnership with BiFab. We will work closely with management and the union representatives to ensure continuity for the people who work for the company.”
Image: Methil yard (BiFab)
Canadians buy BiFab
By EBS