BoE governor tours Appledore shipyard

Above: The Governor of the Bank of England, Andrew Bailey (centre right), with Navantia’s Laura Correa, General Manager (centre left) and Tash Porter, 3rd Year Apprentice (centre).
Courtesy Navantia

The Bank’s policymakers regularly visit and speak to businesses across the UK, including the South West. These visits help them gain valuable insight as to how local businesses are performing in the current economic circumstances, and contribute to their wider perspective and understanding as to how the economy in the UK as whole is performing. 

During a tour of the shipyard, the Governor was shown modernisation work underway as part of a £115 million investment programme by Navantia UK to upgrade its four UK facilities – Appledore, Arnish, Belfast and Methil. 

Appledore is being upgraded with modern equipment – including a heavy-duty, high precision plasma cutter – to play a role in the £1.6 billion Fleet Solid Support programme, under which Navantia UK is building three vessels that will deliver vital supplies to Royal Navy warships. 

Bow sections for the ships will be built at Appledore, before being transferred by barge to the Harland & Wolff shipyard in Belfast for assembly. The vessels will be the second largest in the navy after the UK’s two aircraft carriers – parts of which were also built at Appledore. 

During his visit, Mr Bailey met some of Navantia UK’s 222 apprentices being trained as part of the next generation of British shipbuilders and engineers. Of the present cohort, 43 apprentices are based at Appledore, out of the shipyard’s overall workforce of 200. He held a meeting with members of the south-west business community at the shipyard’s skills centre. 

Donato Martinez, Chief Executive Officer of Navantia UK, said: “The Appledore shipyard plays a vital role in the North Devon economy and investment by Navantia UK has secured its future. It was a pleasure to welcome the Governor and to show him around the yard. 

“Our shipbuilding work creates skilled jobs for local people, including engineering apprenticeships in disciplines such as welding, fabrication and pipe fitting. On top of that, the Appledore shipyard has a supply chain involving dozens of local businesses – delivering everything from steel supplies and equipment hire to landscaping and catering.” 

 Andrew Bailey, Governor of the Bank of England, said: “Navantia UK’s investment in Appledore is a powerful example of how advanced manufacturing and defence innovation can drive regional growth. It’s inspiring to see the shipyard’s rich heritage being matched by a forward-looking commitment to skills, technology and local opportunity. Meeting the firm’s apprentices here today also gave me a real insight into the education and local commerce collaborative efforts.” 
 
The visit highlighted the supply chain of local businesses supporting Navantia UK Appledore, and included a presentation by the Governor to the regional business community. One such business is Wellington Welders, which supplies machinery to the shipyard.  
 
Tom Wheeler, sales engineer at Wellington Welding Supplies, said: “Appledore shipyard is crucial for North Devon and its revival under Navantia UK has the potential to inject real energy into the local economy. As a regular supplier of equipment including welding wire, machines and PPE, we’re looking forward to playing a role in building the three Fleet Solid Support ships and in contributing to Britain’s sovereign defence capabilities.” 
 
Located at the mouth of the River Torridge, Navantia UK Appledore has a rich history of shipbuilding. More than 300 vessels have been built at the yard including military craft, bulk carries, LPG carriers, superyachts and ferries. The Appledore yard was founded in 1855.