A Spanish shipbuilding firm involved in the consortium which won the contract to build three new Royal Navy ships is in exclusive negotiations to take over Harland and Wolff, a UK Sunday newspaper has reported.
Navantia is a Spanish state-owned industrial group specialising in the design and build of both naval and civilian ships. Headquartered in Madrid, it has upwards of 4,500 employees at facilities in Cartagena, Cadiz and Ferrol.
In 2023, alongside Harland & Wolff and BMT Group, it became part of the consortium to be awarded the £1.6 billion UK Ministry of Defence order to build three new Royal Fleet Auxiliary supply ships.
Harland and Wolff announced last month that its parent company would enter administration.