Collapse of Fairey Marine
Fairey Marine was taken into Receivership along with other companies in the Fairey Group in 1975 when the parent company went into liquidation. The business was subsequently absorbed into what is now the marine division of Babcock International Group. When the main Fairey company went into receivership the work force and the management did not want to be taken over by Trafalgar House or Rank International because they expected that those companies would shut the firm and adapt the site for use as a marina. The workforce wanted to stay in boat building and were keen that the National Enterprise Board should take them over (As reported in Hansard in 1979). Since then the company developed and expanded its range of products as well as acquiring a number of other companies including Cheverton Workboats, Brooke Marine and what became Fairey Marinteknik, the company was also known as Fairey Allday, all companies absorbed into Fairey produced the Waveney class lifeboat for the RNLI; see also Attacker class patrol boat, produced in the early 1980s before emerging as FBM Marine in 1988. In March 2000, FBM Marine was acquired by Babcock International Group PLC, a major UK based support services, facilities management and engineering company specialising in the support of defence forces worldwide, and renamed FBM Babcock Marine Ltd.
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