HC Deb 03 March 1975 vol 887 c293W
23. Mr. Kimball

asked the Secretary of State for Industry in view of the creation of 300 jobs in South Wales in the manufacture of stainless steel parts for motor cars by the British Steel Corporation and Grundy Limited, if he will give an assurance that no public money will be used to subsidise this venture in view of the redundancy and over-capacity in other parts of this industry especially in Lincolnshire.

Mr. Meacher

No. We are anxious to encourage sound employment-creating projects in Ebbw Vale to replace those to be lost in steel, and have said that full use will be made of all available incentives. If the company applies for assistance its application will receive sympathetic consideration in the light of this.

End of accounting period Average number of employees in the United Kingdom Net assets*
£ million
Ford Motor Company … … … … 31st December 1973 … 67,000 276
Esso Petroleum Company … … … 31st December 1973 … 10,026 434
Gallaher … … … … … … 31st December 1973 … 18,398 157
Consolidated Tin Smelters … … … 31st December 1973 … 1,314 22
Philips Electronic and Associated Industries … 31st December 1973 … 61,339 235
Rank Xerox … … … … … 31st October 1973 … 10,762 22[...]
Chrysler United Kingdom … … … 31st December 1973 … 30,883 53
IBM United Kingdom Holdings … … 31st December 1973 … 12,428 133
Vauxhall Motors … … … … … 31st December 1973 … 34,365 86
Massey-Ferguson Holdings … … … 31st October 1973 … 18,907 57
Standard Telephones and Cables … … 31st December 1973 … 39,067 111
Mobil Oil Company … … … … 31st December 1973 … 2,405 81
International Nickel … … … … 31st December 1973 … 4,258 42
Mars … … … … … … 31st December 1973 … 9,127 28
Alcan Aluminium (UK) … … … … 31st December 1973 … 9,469 110
Conoco … … … … … … 31st December 1973 … 1,724 59
Hoover … … … … … … 31st December 1973 … 14,860 69
Michelin Tyre Company … … … … 31st December 1973 … 17,274 89
Kodak … … … … … … 28th October 1973 … 12,768 73
H. J. Heinz Company … … … … 27th April 1974 … 10,550 51
* Fixed and intangible assets at book values net of accumulated depreciation, plus current assets and investments less current liabilities including bank overdrafts and loans and future tax.