HC Deb 21 November 1975 vol 901 cc11-2W
Mr. James Johnson

asked the Secretary of State for Industry if he has yet reached a decision on the future of the Drypool Group.

Mr. Prescott

asked the Secretary of State for Industry if he will include Dry-pool Shipbuilding and Repairing Company in the shipbuilding industry nationalisation Bill; and if he will make a statement.

Mr. Varley

I have been greatly concerned to take the course which offers the best prospects of securing continuing employment for the men at Drypool. The financial assistance of £325, 000 already provided by my Department has opened up the prospect of completing work on most of the ships on the present order book. I have been informed by the receiver that Drypool has no commercial future as a group.

After taking full account of the representations and advice that I have received, I have come to the conclusion that the best employment prospects would result from allowing the receiver to negotiate with prospective private purchasers of the component parts, who would bring in new management and provide new work.

The Aircraft and Shipbuilding Industries Bill which is published today excludes from its scope companies which have gone into receivership or liquidation before 21st November 1975.

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