Northern Ireland Economy Minister Conor Murphy has said that Spanish shipbuilding company Navantia is the “type of company” to acquire Belfast-based shipyard Harland and Wolff (H&W), reported BBC. 

He highlighted that, while he did not wish to anticipate a deal, having an experienced shipbuilder in charge would be a beneficial outcome. 

Conor Murphy told the news broadcasting service: “It’s that type of company we would have been thinking about, one that is in that game, has the wherewithal to invest and retain the staff.” 

Navantia is currently in exclusive discussions to acquire the Harland and Wolff shipyards. It follows after H&W entered administration last month, although the operational companies managing the yards remain active. The administration affects only the holding company, Harland & Wolff Group Holdings. 

Insolvency company Teneo is expected to handle the administration process, with some non-core staff redundancies already taking place.  

The Sunday Telegraph first reported the talks about the potential deal, which could encompass all four yards and may conclude by the end of November 2024. 

Navantia's existing partnership with H&W, where they serve as the main contractor for a Royal Navy project and Harland and Wolff as the subcontractor, underpins the negotiations.  

The UK Ministry of Defence has further confirmed that talks about the shipyard's future are ongoing.  

UK politician Mark Francois inquired about the conversations between the Defence Ministry and the Chancellor of the Exchequer concerning the shipyard's role in the contract for three Fleet Solid Support Ships. 

In response, Defence Minister Luke Pollard said: “Ministry of Defence Ministers and officials have regular meetings with counterparts in other Government Departments, including with the Chancellor of the Exchequer, on a range of matters, including the future of Harland & Wolff's shipyards.  

“The successful delivery of the Fleet Solid Support (FSS) ship programme remains a priority. There is extensive engagement with Navantia UK as the Prime Contractor to understand what steps the company is taking to ensure delivery of the FSS contract and management of its supply chain.” 

Amid these talks, Harland and Wolff's board has indicated a viable route for the shipyards to continue under new ownership. 

As the firm streamlines its operations, it has closed its ancillary ventures, including a never-launched Scilly Isles ferry service.  

Other non-core businesses, such as a small US enterprise and a marine services operation, are being divested to save 14 jobs.