Clyde Blowers’ bid for Ferguson shipbuilder preferred

Billionaire industrialist Jim McColl believes collapsed Scottish shipbuilder Ferguson has the potential to grow into a leading marine engineering business.

He was speaking as administrators KPMG named his Clyde Blowers Capital group as preferred bidder for the last commercial shipyard on the Clyde.

The firm was one of four parties registering an interest in the business and its assets after it fell into administration last week with the loss of 70 jobs.

“We are pleased to have been selected as the preferred bidder for Ferguson’s, which we believe has the potential to grow into a leading marine engineering business,” said Mr McColl.

“Work is now under way to develop a plan to rebuild Ferguson’s. We look forward to working with all the key stakeholders in that rebuilding process.”

Joint administrator and KPMG head of restructuring Blair Nimmo said: “There are still ongoing discussions to be had with Clyde Blowers. However, we are now confident a sale can be achieved quickly.

“This is a positive first step towards the potential resumption of ship-building and ship repair activities.