The headquarters for the new vessel leasing and assets owning company Caledonian Maritime Assets Limited (VESCO)will be based in Port Glasgow, Inverclyde, it was announced today.

The announcement on the location of the company, formed from the imminent restructuring of CalMac, was made by the Minister for Transport Tavish Scott.

Mr Scott said:

"Locating the headquarters in Port Glasgow will secure high quality jobs and will be a welcome boost to the economy of Inverclyde.

"The close proximity of the site to the existing CalMac HQ in Gourock will aid a smooth transition in the restructuring of the shipping group.

"That the Maritime and Coastguard Agency (MCA), responsible for marine safety, is also in nearby Greenock, makes Port Glasgow a compelling choice."

NOTES TO NEWS EDITORS

1. The company will operate from a headquarters in Port Glasgow. Port Glasgow has been identified by Inverclyde Council as an ideal candidate for government jobs. Selection of the headquarters was undertaken in line with the Scottish Executive's relocation policy and reports are available on the Scottish Executive website at: http://www.scotland.gov.uk/Topics/Government/Relocation/Introduction.

2. Caledonian MacBrayne Ltd. (CalMac) currently provides the majority of Clyde and Hebrides ferry services and is wholly owned by Scottish Ministers. These lifeline services require an annual revenue deficit grant from the Scottish Executive to maintain service levels.

3. In order to comply with European guidelines on State aids in maritime transport, an open public tender is necessary in respect of the ferry services currently operated by CalMac. The Scottish Executive is tendering the Clyde and Hebrides Ferry Services (CHFS) as a single bundle, with the exception of the Gourock-Dunoon service which is being tendered as a single route on a commercial basis.

4. In recognition of the uniqueness of the CalMac fleet and to ensure a level playing field for all bidders the current company will split into an asset-owning company, Caledonian Maritime Assets Limited (VesCo) and a new operating company, CalMac Ferries Limited (OpsCo). This will be done by Caledonian MacBrayne Ltd transferring its operations (but not its assets) to CalMac Ferries Limited. Caledonian Maritime Assets Limited will continue to own all vessels and land-based assets (ports, harbours, etc) and lease them to the operator while CalMac Ferries Limited will bid to run the services in the open tendering process. Whichever operator is appointed will be bound to use the vessels owned by Caledonian Maritime Assets Limited except on the Gourock-Dunoon route where the operator will be free to utilise alternative vessels.

5. Caledonian Maritime Assets Limited as the asset owning company will remain a publicly owned company with Scottish Ministers as the single shareholder. The company will be overseen by a Board of Directors appointed by Ministers. The Caledonian Maritime Assets Limited board will appoint a small executive management team and supporting staff, in the region of 8-10 staff plus professional advisors as required.



Contact: Mark Hannan: 0131 244 2625
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Internet: www.scotland.gov.uk