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Contract signed to bring firm into public ownership.
The contract to take Ferguson Marine into public ownership has been signed by the Scottish Government.
A meeting of the board of directors of Macrocom, the company wholly owned by Scottish Ministers which will own the Ferguson Marine business and assets, also took place today to consider and sign the contract.
Full completion of the contract and the final transaction will take place in the coming weeks.
Finance Secretary Derek Mackay said:
“Our focus has always been on ensuring completion of the two public sector ferries at the best value for money for the taxpayer, while also working towards the delivery of the other vessels under construction at the yard, and in doing so, securing jobs for the workforce.
“Today marks another important milestone in the transition into public ownership and I will also receive the Programme Review Board’s report on the schedule and cost for delivery of the two ferries shortly.
“While we’ve been working with the administrators to bring the yard into public ownership, work on the ferries has been progressing, and additional staff have been recruited.
“The action that we have taken will ensure there is a future for Ferguson Marine.”