THREE former directors of Cammell Laird have bid to buy two yards from the troubled shipbuilder and said they could be back in business within weeks.

Ex-managing director John Syvret, corporate development director Brett Martin and engineering director Tom Williams said they had secured financial backing to re-establish Cammell in ship repair, refit and conversion.

They are bidding to buy the yards on the Tyne, and at Birkenhead on Merseyside.

They said their initial plan was to employ about 250 workers, with the prospect of several hundred more jobs being created in the future.

Mr Martin said: "We believe this is the best solution for the employees and for the long-term viability of the ship repair industry on Merseyside and Tyneside."