Bid to Rescue Clyde Shipbuilder Ferguson

Jim McColl, one of Scotland's richest men, has tabled a bid to rescue collapsed Clyde shipbuilder Ferguson and aims to return the yard to its former glory by creating hundreds of jobs, according to HeraldScotland.

The engineering tycoon, who saved about 550 jobs at Weir Pumps in Glasgow in 2007 by buying that business from Weir Group, is pledging to invest many millions of pounds in the yard at Port Glasgow if his offer is accepted by ­administrators.

Ferguson, which was founded in 1902 and is the last commercial shipbuilder on the Clyde, collapsed into administration last week, with 70 of the remaining 77 employees made redundant reports HeraldScotland online.

Mr McColl, who has told the Scottish Government of his hopes of rescuing the yard, sees a bright future for Ferguson in building ferries and working on vessels for the oil and gas and renewable energy sectors,

Source: HeraldScotland