John Readhead and John Softley founded the business in 1865 in South Shields as Readhead and Softley.[1] The first ship they built was a small collier called Unus.[1]Swan Hunter bought the company in 1967 after publication of the Geddes Report which recommended rationalisation of shipbuilding on the River Tyne.[2] It was nationalised with the rest of Swan Hunter in 1977. The yard at South Shields closed in 1984.[3]
