HC Deb 18 June 1973 vol 858 cc7-8
8. Mr. Leslie Huckfield

asked the Secretary of State for Trade and Industry whether he will make a further statement about BSA.

Mr. Chataway

Norton Villiers Triumph Limited has offered to acquire the whole of the issued share capital of the Birmingham Small Arms Company Ltd. on terms which were set out in my written answer to my hon. Friend the Member for Norwich, South (Dr. Stuttaford) on 11 th June.

I wish, however, to correct an error in the OFFICIAL REPORT of that answer and confirm that the Department's preference shareholding will carry a right to dividend from 1st August and not 1st May 1976.

Mr. Huckfield

Will the Minister bear in mind that it is now nearly three months since I brought two deputations of shop stewards from the Triumph factory at Meriden to see him, and that they were under the impression that the whole matter could be sorted out in about 10 days? Is he aware of the large number of rumours circulating about closures and redundancies, and will he make it clear to Mr. Dennis Poore that there is a prime need for him to meet the workers as soon as possible?

Mr. Chataway

This is a complex matter. There were seven major agreements to be completed as well as a number of financial arrangements to be made. I have written to Mr. Poore telling him of the meeting I had with the hon. Gentleman and representatives of the employees on 22nd March, and of their expressed wish to meet him.