Titanic builder Harland and Wolff to be bought by Spain's Navantia

The future of the Northern Ireland-based Harland and Wolff shipbuilder, which famously built the Titanic, appears to have been safeguarded after the Spanish state-owned business Navantia stepped in to buy it. The purchase of the company is subject to regulatory approval. The company was placed into a type of bankruptcy in September for the second time in five years. Thursday's deal if approved will secure 1,000 jobs at Harland and Wolff’s four shipyards including at the iconic one in Belfast. The deal is important for the Royal Navy as Harland and Wolff is a subcontractor in part of a consortium that landed a major contract to build new ships. Navantia U.K. is the main contractor on that contract.