Navantia UK is in discussions with Harland & Wolff, a historic British shipbuilding business, to acquire its operations across four sites, including Belfast in Northern Ireland.
The other three sites are Appledore in the south west of England, and Methil and Arnish in Scotland.
The acquisition will strengthen Britain’s industrial capacity whilst preserving more than 1000 jobs, stated Navantia UK.
The deal will enhance UK shipbuilding, defence and offshore wind industry capabilities, developing both a highly skilled workforce and a robust British supply chain.
This will strengthen the country’s sovereign industrial capacity.
Under the proposed agreement, which remains subject to completion and regulatory approvals, Navantia UK will manage all four facilities, bringing its extensive expertise in shipbuilding, fabrication, complex programme management and fostering knowledge transfer.
The deal is expected to be completed in January 2025.