§ Mr. David Mitchell
KME received three grants under section 7 of the Industry Act 1972, totalling £4,967,000. A grant of £3,900,000, offered in December 1974, was advanced in tranches between January 1975 and January 1976 and a further grant of £860,000 was advanced in two tranches in May and July 1977.
In addition, interim assistance in the form of a grant of £207,000 was advanced between October 1978 and January 1979 to cover KME's losses in the period that a working party, set up by the previous Government, considered the co-operative's future and subsequent negotiations were taking place for a possible takeover.
KME also received regional development grants for expenditure on qualifying assets, but the detail of these amounts is published only if the company concerned has received payments in the previous quarter of £25,000 or more.