April 18, 2018

Scottish offshore fabrication company saved by JV Driver

The Scottish government helped secure the deal to keep BiFab's facilities operational (Wikimedia Commons/Pschemp)
The Scottish government helped secure the deal to keep BiFab's facilities operational (Wikimedia Commons/Pschemp)

BiFab faced a ‘critical cash position’ before the purchase, which was facilitated by the Scottish government to save the company’s fabrication yards.

In a deal brokered by Scottish First Minister Nicola Sturgeon, the Scotland-based BiFab has been bought by JV Driver through its subsidiary DF Barnes.

BiFab supplies fabrication for offshore oil and gas facilities and renewable energy projects. The Scottish government will take a minority shareholding of the company, which employs over 1000 people, as part of the agreement.

“We have been in negotiations with DF Barnes for a number of months and today is a significant step forward in our efforts to restore BiFab to its place at the centre of Scotland’s marine energy industry,” said the First Minister.

“DF Barnes acquisition is a key milestone for all three BiFab yards and as a sign of our commitment to the company’s future, the Scottish Government will maintain a close interest by taking a minority shareholding in the company.

“There is a lot of hard work ahead, and there is no magic bullet for these yards but the commitment of DF Barnes to securing a new future for the business at Burntisland, Methil and Arnish is a hugely positive step and I believe that gives BiFab the best chance of winning future contracts and securing new work.”

The company had been suffering from a ‘critical cash position’ as its order book dried up. It announced its intention to appoint administrators late 2017.

The acquisition by DF Barnes is meant to allow BiFab to bid for contracts with the expertise and the financial security of the Canadian company behind it.

JV Driver is one of Canada’s largest independently owned industrial construction companies. Its subsidiary DF Barnes has been a consistent employer in the oil and gas, fabrication and marine industries for over 80 years.

Sean Power, vice president in business development DF Barnes, said in a statement: “We are looking forward to a long and successful partnership with BiFab.  We will work closely with management and the union representatives to ensure continuity for the people who work for the company.  We are sensitive to the commitment that employees have made to BiFab and will work hard to meet their expectations.”

The Scottish government helped secure the deal to keep BiFab's facilities operational (Wikimedia Commons/Pschemp)






May 25, 2018
The Estigia type series extends the KSB portfolio for the chemical and petrochemical industries and other applications, and will be showcased at this year’s ACHEMA trade fair in Frankfurt. The pumps... [Read More]

May 24, 2018
The UK’s Environment Agency has urged government to take action to increase the water supply and urged consumers to use less water in the face of shortages caused by climate change and demand from... [Read More]

May 24, 2018
ExxonMobil is introducing greenhouse gas reduction measures designed to improve emissions performance by 2020. Targets include a 15% decrease in methane emissions and a 25% reduction in flaring compared... [Read More]

May 24, 2018
TUV SUD NEL, a specialist in flow measurement research and development, has completed the base building that will house its £16 million (€18 million) Advanced Multiphase Facility (AMF). Construction... [Read More]

May 23, 2018
Cheniere Energy’s has committed to the development of a third LNG liquefaction train at its Corpus Christi liquefaction project (CCL project). It was announced on 22 May that... [Read More]

May 23, 2018
Hydranautics has announced the launch of the CPA7 series of RO membranes for municipal and industrial fluid treatment: the CPA7-LD-4040, CPA7-LD and CPA7 MAX. The CPA7 membranes offer a combination of... [Read More]

May 22, 2018
KSB Pumps and Valves has assisted the University of Pretoria in the construction of a large controlled-temperature test unit, which will form the backbone of ongoing research into heat transfer, fluid... [Read More]

May 22, 2018
The new MetraFlow ultrasonic flowmeter from Titan Enterprises incorporates a chemically resistant Perfluoralkoxy Alkane (PFA) tube onto which are mounted high sensitivity ultrasonic sensors. The company... [Read More]

May 22, 2018
ECD says the analyser-process controller simplifies liquid measurement and control The new LQ800 Multi Channel Controller from Electro-Chemical Devices (ECD) combines internet-of-things liquid analytical... [Read More]

May 21, 2018
The need to repair the ageing water infrastructure sitting in cities like Los Angeles is becoming more and more acute. Utilities are increasingly concerned about the lifespan of their systems and how quickly... [Read More]

May 21, 2018
The company says the acquisition complements and strengthens its global presence in delivering fluid automation solutions. Emerson announced on 17 May that it has agreed on terms to acquire Aventics... [Read More]

May 21, 2018
Orbinox has launched a new line of heavy duty slurry knife gate valves designed for high pressure applications. The HG series knife gate valve has been specifically designed to offer excellent performance... [Read More]

May 18, 2018
Tendeka has successfully tested its PulseEight wireless control and monitoring device with an operator in the North Sea. The PulseEight uses pressure pulse telemetry to communicate wirelessly between downhole... [Read More]

May 18, 2018
The Dhaka Water Supply and Sewerage Authority (WASA) has chosen Veolia and Suez to design, build and operate the Gandharbpur drinking water treatment plant. WASA is the body in charge of drinking water... [Read More]

May 17, 2018
ITT announced 17 May that it is expanding its i-ALERT Monitoring Solution portfolio, giving customers additional options to maximise the efficiency and total cost of ownership of all types of rotating... [Read More]