THE decision to name Jim McColl as the preferred bidder for Fergusons Shipbuilders was welcomed today.

Yesterday Blair Nimmo, joint administrator of the yard and its assets, said he was confident a sale could be achieved quickly.

Now union bosses say they are hopeful for their members.

Mr McColl saved more than 500 jobs at Weir Pumps in 2007 when he bought the firm from the Weir Group.

Kenny Jordon, Secretary of the Confederation of Shipbuilding and Engineering Unions, said: "We are pleased the preferred bidder is someone who wants to take the yard forward and maintain shipbuilding.

"Staff are in limbo at the moment but they are hopeful they will get a start back in the yard. This will give them a bit of confidence, especially the message that a sale could be made within two weeks.

"We look forward to working with Jim McColl in trying to secure long-term employment for all our members."

Stuart McMillan, MSP for the West of Scotland, said: "This has been a difficult time for the workforce and the community.

"I welcome the efforts of all those involved and commend the Scottish Government and other partners for acting to assist the workforce."

Other bids lodged included one by the Easdale Brothers, Sandy and James, who run McGill's Buses.