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Shipbuilder Harland & Wolff has been rescued by a Spanish rival in a deal that saves 1,000 jobs.
The Belfast company famous for building the Titanic went into receivership in September for the second time in five years.
It has now been bought by Spanish state-owned company Navantia, which secured a £1.6bn contract in 2022 to build three ships for the Royal Navy with Harland & Wolff.
The Government agreed to modify that contract, which Navantia was pressing to improve.
Rescue: Shipbuilder Harland & Wolff went bankrupt in September for the second time in five years
The rescue secures 1,000 jobs at four shipyards: one in Belfast, two in Scotland and one in England.
Business Secretary Jonathan Reynolds said: “This is an important vote of confidence that will not only secure the future of UK shipbuilding but protect 1,000 jobs.
“It will ensure a sovereign shipbuilding capability to strengthen our Navy and ensure the industry can continue to generate economic growth and boost coastal communities.”
Defense Secretary John Healey added: “It strengthens our sovereign ability to support Royal Navy operations around the world.”
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