From 1980, the company became the centre of British Shipbuilders’ Offshore Division and it was hoped that the offshore semi-submersible market would lead the yard back to profitability. However the Ocean Alliance semi-submersible construction was a disastrous contract for the company, with the rig eventually delivered four years late and at a loss of over £200 million.[2]
In 1984 Trafalgar House bought the company and the Company ceased to trade in 1993.[1]
^Scott Lithgow: Déjà vu all over again! The Rise and Fall of a Shipbuilding Company, Lewis Johnman and Hugh Murphy, Research in Maritime History series: No. 30, October 2006.