A Canadian company has taken over the troubled BiFab engineering firm in the UK.
The Scottish company – which builds large-scale equipment for the offshore oil and gas industry as well as platforms for offshore wind turbines and tidal generators. – had warned workers at its yards in Methil, Burntisland and Arnish could face possible redundancy.
Canada’s independently owned industrial construction company JV Driver, through its subsidiary DF Barnes, which is involved in the oil and gas, fabrication and marine industries, has bought BiFab through an agreement brokered by the Scottish Government.
Under the deal, the government will take a minority shareholding in the new company.
Economy Secretary Keith Brown said: “This agreement gives the workforce, the company and the government the best possible chance of securing a vibrant future for these yards.