Hundreds of jobs safer after Canadian firm takes over troubled Bifab

HUNDREDS of jobs have been made safer after the Scottish Government took a stake in the troubled Fife-based engineering firm Bifab.

First Minister Nicola Sturgeon yesterday visited the company’s Methil yard to announce new investment had been found for it and the other yards in Burntisland and Arnish on Lewis.

Canadian company JV Driver, through its subsidiary DF Barnes, has acquired Bifab in a governmentbrokered deal to support marine, renewables and energy sector construction.

Bifab has around 250 permanent staff and a further 1,000 contract workers relying on it.

The company was saved from administration last year after the Scottish Government loaned it £15million, with a further £4m this year.

Economy Secretary Keith Brown told MSPS the loans would be expanded and converted into a stake of up to 38 per cent.

He said there was “no intention” to shed further staff, but it would be up to the new owners whether to remove any redundancy notices issued to workers in February.

He said: “The Scottish Government believes Bifab can be a thriving business, supporting Scotland’s offshore renewables and oil and gas industry as well as competing internationally for work, and we will continue to work with the company to achieve that success.”

However he said jobs had not been permanently saved, and such assurances could only come from winning new contracts.

He warned of “difficult times” ahead, but said the deal was the “best possible chance of securing a vibrant future for these yards”.

He added the financial details of the deal remain commercially confidential but the government wanted to stay in for the “long term”.

Ms Sturgeon said: “There is a lot of hard work ahead, and there is no magic bullet for these yards but the commitment of DF Barnes to securing a new future for the business at Burntisland, Methil and Arnish is a hugely positive step.”

DF Barnes CEO Jason Fudge said: “Scotland has been an admired world leader in the offshore oil and gas and renewable energy sectors, and we are delighted to join with the employees of Bifab and the people of Scotland to ensure the continued growth of Bifab for the benefit of all.”

JV Driver is one of Canada’s largest construction companies.

There is a lot of hard work ahead, and no magic bullet