New Ferguson shipyard owner Jim McColl re-hiring redundant staff

Jim McColl outlined his vision for Ferguson shipyard at a news conference on Thursday

The new owner of Ferguson Shipbuilder has started to re-hire staff who were made redundant when the Port Glasgow yard went into administration.

Jim McColl, Clyde Blowers Capital chairman, confirmed the move as part of his vision to diversify the business.

He said 30 of 70 people made redundant in August had started back and staff numbers would rise to 80 by November.

Mr McColl aims to invest £8m and employ up to 300 staff servicing the oil and gas, marine and renewables sectors.

The businessman said he hoped to have a workforce of up to 80 people, including all those who were made redundant, by 10 November.

As part of an investment strategy to grow the business, which will be renamed Ferguson Marine Engineering, Mr McColl aims to have a workforce of between 100 and 110 people working by early 2015.

The long-term vision is for staff numbers to reach between 200 and 300 people.

At a media briefing on Thursday, Mr McColl said he would switch the focus of the business to fabrication in the marine, oil and gas and renewables sectors.

He said he had earmarked between £7m and £8m to invest immediately in the yard and said the long-term investment could rise to up to £60m if required.

The firm, under Jim McColl, will be renamed Ferguson Marine Engineering

The businessman said orders were there to be won and Fergusons had turned down contracts for three ferries recently as it did not have money to invest - a situation that no longer existed.

Mr McColl said the current referendum on Scottish independence would have no impact on his plans, whatever the outcome.