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The have bought the government as well as h&w.
They dare not go against them now with the employment on offer.
With the 23 sept rns more positive news due
Yes a raft of positive news on the horizon here, I see the sp moving sharply north in the imminent future.
Today's RNS could be a masterstroke, yes it comes with risk, however without risk, no reward. The coverage will be good, and the goodwill achieved will be absolutely fantastic for the upcoming projects.
Now EU, where is our money, hand it over pronto, please.
Mr T
I agree. The assets purchased are worth nearly double what we paid and it will speed construction by 5 months, whilst reducing capex by 15%. Plus the priceless PR that we will now get for saving an NI heritage institution
How do you know they are worth double?
Last century is awash with companies/people who have bought shipyards and lost a fortune.
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.
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.’
Slowly slowly catch the monkey jigsaw fitting together nicely
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.
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 .
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.