After a nine-week occupation by workers of Harland and Wolff, the iconic shipyard has been bought over, it has been announced.
The UK firm, which specialises in infrastructure projects 'signed heads of terms to purchase the principal assets of the shipyard for a total consideration of £6 million', they said in a statement issued this morning.
And 100% of the 79 employees will be retained following completion of the acquisition in what has been described as a 'landmark win' for workers.
John Wood, CEO of InfraStrata, said: “Harland and Wolff is a landmark asset and its reputation as one of the finest multi-purpose fabrication facilities in Europe is testament to its highly skilled team in Belfast.
"This acquisition is a function of deep operational synergies between the various business segments of the Company with Harland and Wolff underpinning the construction economics of the Islandmagee Gas Storage Project and other future Projects.
"We are delighted to be able to retain 100% of personnel who did not opt to take voluntary redundancy earlier this year.
“Our Islandmagee Gas Storage Project will benefit greatly from their expertise in the energy sector, both technically and economically, and we look forward to growing the workforce significantly in the coming years.
"While our core priority will be to deliver our flagship project in Islandmagee, we believe there are opportunities to welcome potential new clients due to the diverse skill set at the facility.
"This acquisition will clearly provide substantial advantages through vertical integration in addition to demonstrating our commitment to the Northern Irish economy, particularly in the post-Brexit era.”
Welcoming this morning’s announcement Unite Regional Secretary Jackie Pollock said that the 'dramatic turnaround' in the iconic shipyard’s fortunes was due solely to the determination of the workforce who refused to accept the loss of their jobs and skills.
He said: "On July 29, following a week of speculation and the threat of imminent closure, workers at Harland & Wolff took matters into their own hands and occupied the site.
"While politicians on all sides threw up their hands, claiming that the shipyard could not be saved and efforts should be focused on securing redundancy payments, the workers stepped up and took control.
“Few commentators believed they would be win, but as trade unionists they had belief in the power of collective action.
"Now, the Administrator is preparing letters requesting our members return to work this week following the acceptance of bid from Infrastrata which will not only save jobs but lay the foundations for the yard’s expansion..
"This is one of the most significant victories won by trade unions in Northern Ireland, and it is due to the efforts of the workers themselves supported by their unions and officials.
"Today’s lesson is clear: when working people organise, everyone wins."
Regional Coordinating Officer Susan Fitzgerald said that the workforce had not only rescued their own jobs but had 'laid the foundations for a new sense of self-confidence among working class people.'
She said: “Harland and Wolff workers have defied the cynics to show that decisive, militant and organised action can secure real victories.
"As well as safeguarding their own futures, the workers have sent a message that will be heard across Northern Ireland, most immediately by Wrightbus workers in Ballymena facing a crisis not of their own making.
"It is a mark of the decency of this workforce that this week, instead of just celebrating, they are planning to make their way to Ballymena to stand with union workers there."
Julian Smith, Secretary of State for Northern Ireland, said he is 'delighted' at the news.
"I firmly believe that the shipyard has a promising future and that InfraStrata’s plans present an exciting opportunity for both Belfast and Northern Ireland’s manufacturing and energy sectors,” Mr Smith said.
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