HC Deb 15 July 1974 vol 877 cc16-7W
Mr. Spearing

asked the Secretary of State for Industry what is his estimate of the number of firms which have been sold to or taken over by companies in Europe to which production has been or will be transferred, and the approximate number of employees thereby losing their jobs.

Mr. Gregor Mackenzie

The Department's analysis of acquisitions and mergers of industrial and commercial companies, based on reports in the financial Press, shows that companies of other EEC countries acquired one United Kingdom company in 1972 and one in 1973. No such acquisitions were reported in the first quarter of 1974. Companies are acquired as going concerns and transfer of production and loss of employment need not arise.