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Notice of Intention to appoint Administrators



Burntisland Fabrications Limited (“BiFab” or “the company”) is a leading Scottish based fabricator of structures for the oil and gas and offshore wind industries. It operates three facilities – Burntisland and Methil on the east coast of central Scotland, and Arnish on the Isle of Lewis. It is a major employer in Scotland with a workforce of c1,400 people across the three sites. This comprises 251 permanent staff, and 1,132 employed via agencies. BiFab is currently working on two significant contracts in respect of the Beatrice Offshore Windfarm which is under construction in the outer Moray Firth. One contract is nearing completion whilst the other is at a much earlier stage and is expected to run to 30 April 2018. The company is currently facing a critical cash position as a result of a challenging situation regarding its ongoing contracts. The Directors of BiFab have been seeking to secure an immediate financial solution with its key stakeholders and are actively in discussion to consider options / solutions that will allow the business to continue trading / overcome this temporary difficult position and have been encouraged by the rapid communication between the parties in the later part of last week and over the weekend. However, given the financial position of the company the Directors have taken steps to protect the company via the filing of a Notice of Intention to Appoint Administrators. However, for clarity, please note that the company is not currently in administration and the Directors remain hopeful that a solution can be reached to secure the future of the business and the workforce. Martin Adam Managing Director for the company said "We are very disappointed that we have found ourselves in the current position which has arisen as a result of a challenging situation in respect of our ongoing contracts which have been providing much needed employment locally in Scotland. We are seeking a rapid solution with our key stakeholders and the Scottish Executive to our current cash flow position and are hopeful that this can be achieved quickly to secure the future of the business and the 1,400 strong workforce."
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