Steelworks (Foreign Acquisition)

HC Deb 26 March 1975 vol 889 cc185-6W

Mr. Wigley

asked the Secretary of State for Industry whether, under EEC regulations, it is possible for (a) private steel companies. and (b) public steel corporations within the other eight EEC countries to purchase a steelworks in the United Kingdom, such as Ebbw Vale, and to run it as a going concern in competition with the British Steel Corporation.

Mr. Meacher

Yes, in either case. However, as in any other concentration or merger the acquisition of a United Kingdom steelworks by a Community steel undertaking would be subject to the prior authorisation of the European Commission under Article 66 of the Treaty of Paris.