Canadian investment at BiFab could save jobs

Posted on 11 May 2018 and read 392 times
Canadian investment at BiFab could save jobsNew investment that has been secured for Burntisland Fabrications Ltd (BiFab) could save hundreds of jobs in Fife and in the Western Isles.

The Government offered BiFab (www.bifab.co.uk) a £15 million loan in November to prevent it going into administration, but the firm remained under threat, as its order book dried up after the completion of the Beatrice Wind farm contract in the Cromarty Firth.

The next prospects in sight are structures for wind farms off the coast of Moray, Angus and Fife, but they remain some months off.

Canadian company JV Driver (through its subsidiary DF Barnes) has acquired BiFab as part of an agreement brokered by the Scottish Government to support new opportunities at the company’s yards in Methil, Burntisland and Arnish for fabrication and construction work for the marine and renewable energy sector.

JV Driver is one of Canada’s largest independently owned industrial construction companies, while its DF Barnes subsidiary has been a consistent employer in the oil and gas, fabrication and marine industries for over 80 years.

Together, they will bring project expertise and financial security to the company, as it bids for new contracts.

As part of the agreement, the Scottish Government will take a minority shareholding in the new company to demonstrate its continued commitment to supporting the yards.

First Minister Nicola Sturgeon said: “There is a lot of hard work ahead, but the commitment of DF Barnes to securing a new future for the business at Burntisland, Methil and Arnish is a hugely positive step.”

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

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