We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
@Tonyh1975 Also, one cannot be "accused" of nationalistic views, simply because holding such views is not a crime. Nationalism is not a dirty word, it's one of many available point of views on how countries should be run.
Back to INFA though, there sure is added pressure now to get the construction up and running as soon as possible. That recent acquisition will only deliver assumed benefits if the works are started, until then it's just a money drain.
PeterLutton
I have not raised any nationalist views, so no need for false accusations to get a point across.
Your point being that private investors should be having their good money buying out a failed business.
As i said you i have worked there hence from a personal point of view i'd sooner it be kept open, but not if the money i have earned working there is to be lost investing in it. Comprende?
It's a TITANIC deal ;-}
The new gas powerstation will also need a very large amount of fabrication and we could find the new company INFA will have a position supplying this facility . Wit Brexit apon us and power energy being a future problem . INFA could have recognised the importance attached to the excuse te pun infa structure. The green you know who you are should aslo be satified as H&W will also take on renewable contracts . In other words an all round souloution for everyone Jobs fuel security and green related renewables.
JW will be interviewed at 1.30pm on Sky News (Ian King business half hour). Tune in!
Jptop
You are an absolute fantasist with you "this will get government support".
Well maybe if Corbyn becomes PM.
Irony of someone buying shares in a private company then wishing for government support really does sum up the intellect of the average British citizen who seeks nanny state to take the down side.
He will of course keep the factory working as any skilled workforce and business, will complement and take additional work and improve the workforce its main effort is of course infa gas storage facility which should now be backed with goverment support (clever Move). and other conversions including renewables a great balance of possible work . But be assured the main focus will be on getting the Ilandmagee project finished.
Just on Sky News too so much publicity which is priceless!
Very surprised by the announcement and clearly does explain why the mgmt team has been somewhat distracted lately.
Not quite sure how I feel about this deal.
Longer term agree that there is huge potential for this yard to fabricate parts for IM etc.
However, the equity/debt funding is not in place and as of today Infa is a tiny company with very little cash. As of tomorrow we have another 100 salaries to pay, pensions, etc etc and a business that has been loss making for years.
Where is that money going to come from? In addition to the £6m purchase they are likely going to have to raise further money to pay for all the new people unless they can immediately turn H&W into a profitable business with third party work
Be an interesting few weeks coming thats for sure!
Jptop7
What you are saying is contradicting what John Wood is clearly stating in the video as shown below.
https://twitter.com/qnewsdesk/status/1178978653415362561
I like it!
Sets in stone that this project is happening to me
INFA are not building ships or servicing ships they have obviously been given te nod they have bought the fabrication factory to build INFAs structures for Ilandmagee. Goverment support must be obvious as the 100 jobs and H&W being saved is the jewel in this crown .
Volumes twice normal days already
But that fabrication business can surely only make a profit if there are rigs and ships getting serviced or built there.
Sadly they are not.
It has taken time but the foundations being set now are going to see a very bright sustainable future. The projected income streams from the IM and FSRU projects were amazing, now we have a fabrication business we will be keeping a far larger chunk of the money and maybe greater % of returns for lowering build costs to equity partner/s. All coming together!
Just heard the news on radio 1! It's getting good press
As i say ive done a bit of work there, from what i remember there are a few large fabshops, offices, and a canteen. With the exception of the slipways that is the shipyard.
And after watching that video it would seem Infrastrata have bought the lot.
They have bought the asset to build the necessary structures for INFA site saving a fortune . the asset also comes with a very seasoned fabrication team .
Isn't the assets and the workers are in essence the shipyard?
The article in the Belfast Telegraph states they've bought Harland and Wollf.
https://www.belfasttelegraph.co.uk/business/northern-ireland/harland-and-wolff-saved-from-closure-as-infrastrata-snaps-up-belfast-shipyard-for-6m-38550347.html
At a time of infrastructure spending by global governments and military spending to rise it may well be a good time to own such a yard, but its certainly a strange and risky acquisition, for a company with no experience in this field.
I've worked there on an oil rig refurb a few years ago but Dolphin who serviced their own rigs there couldn't make a profit.
Slowly slowly catch the monkey jigsaw fitting together nicely
I’m going on the value given in the RNS. ‘The Acquisition cost is a substantial discount on the valuation of the Assets of around £11 million.’
Tonyh as much as I agree about shipyards, INFA haven't bought a shipyard have they? I thought it was just the assets and the manpower which will save fortunes for when they start the construction for the IM gas storage vessels. Correct me if I am wrong.