HC Deb 12 February 1986 vol 91 c949
13. Mr. Dykes

asked the Secretary of State for Trade and Industry what recent steps Her Majesty's Government have taken to facilitate a decision by the board of Westland plc about the future structure and ownership of the company; and if he will make a statement.

The Minister for Information Technology (Mr. Geoffrey Pattie)

The Government's aim throughout has been to enable the Westland's board to decide what reconstruction of the company to recommend to shareholders based on a choice between viable alternative proposals and in which the shareholders could take the final decision.

Mr. Dykes

What is the Government's reaction to today's developments at the meeting?

Mr. Pattie

I understand that a motion to adjourn the extraordinary general meeting of the company has been proposed and defeated and that the meeting is still going on. My understanding is that the result of the substantive motion will not be known until later this afternoon.

Mr. Carter-Jones

Has the Minister learnt any lessons from the Westland affair?

Mr. Pattie

I think that all of us are in a position to learn about any affair.

Mr. Teddy Taylor

Will my hon. Friend accept that the events of this morning at the extraordinary general meeting made it clear, as never before, that some people seem to be interested only in wrecking a solution to the Westland crisis? Will he do all that he can to appeal to all those involved, particularly competitors, to do all in their power to ensure that Westland recovers well, prospers and goes from strength to strength?

Mr. Pattie

The final part of my hon. Friend's question is exactly what we would wish Westland to achieve. I think that all of us in the House believe that the sooner the Westland company can get on with the reconstruction and the business of building helicopters, the better it will be.

Mr. John Smith

Does the Minister think that it is appropriate that the future of such an important company, in terms of its industrial and defence consequences, should be decided by a series of doubtful financial wheelings and dealings and, in the event, by anonymous Swiss bank nominees?

Mr. Pattie

I do not accept the right hon. and learned Gentleman's construction. None of the dealings are anonymous. As he well knows, powers exist for a company to ascertain the names of those who own shares. There is no reason why the extraordinary general meeting should not reach a satisfactory conclusion.