DML AND APPLEDORE SHIPBUILDERS LTD (ASL)

DML can confirm today (13 February 2004) that, following shareholder approval, it has now formally completed arrangements to lease the Appledore shipyard from Appledore Land Ltd and acquire associated assets from ASL's administrative receiver.
DML hopes to re-employ a small number of the 550-strong workforce initially while it bids for new contracts, and expects to take on more staff as work is secured.
Dr Dennis Gilbert, DML's Chief Executive, said: "This is essentially a business start-up situation. We will be focussing on specific market niches as we begin our efforts to secure suitable enquiries for the Appledore facility, which will be run as an additional production unit under the Devonport organisational structure."
"Clearly this is just a first step. We have to bid for and win work before we can start talking about how many staff we hope to employ."