PwC reveals buyout proposal for Cammell Laird

A management team has flagged its interest in buying the ship builder’s site in Tyneside. Hundreds of jobs could be saved.

Another two production sites of Cammell Laird , the UK ship builder that called in receivers PricewaterhouseCoopers (PwC) in April, may survive the company’s current difficulties.

PwC announced today that a management team had made an indicative offer for the shipyard in Tyneside in the northeast of England.

The receivers also said it expected another offer from a separate team to buy out Cammell’s plant at Birkenhead.

PwC has already accepted an offer made by Eric Welsh, the Cammell Laird executive who wants to take over the company’s site in Teesside.

No details of the offers were disclosed.

The ship builder, which suspended trading of its shares in April, has shed a substantial amounts of workers already, but if the buyouts do proceed, several hundred jobs should be saved.