§ Mr. Carsonasked the Secretary of State for Northern Ireland by what means the labour force at Strathearn Audio is recruited, through public advertisement or labour exchange, for example; and what have been the totals of persons employed at yearly intervals since the company's formation.
§ Mr. ConcannonThe labour force at Strathearn Audio is mainly recruited from those making direct speculative application to the company for employment, from persons responding to newspaper advertisement in the case of managerial, professional and technical posts, and through the public employment service provided by the Department of Manpower Services.
Employment levels: June 1974 … … … 18 June 1975 … … … 146 June 1976 … … … 320 June 1977 … … … 300
§ Mr. Carsonasked the Secretary of State for Northern Ireland if he will make a statement on the financial position of Strathearn Audio; what is the public investment to date and the projected investment needs.
§ Mr. ConcannonStrathearn Audio is wholly owned by the Northern Ireland Development Agency. It has an issued and paid-up share capital of £1,117,872. NIDA and its predecessor, NIFC, have invested approximately £73 million in the project to date in the form of both equity and loan capital. At the beginning of 1977 accumulated losses and 569W outstanding loans amounting to almost £5.4 million incurred during the development and starting-up phases of the project, were written off. The company rents its premises from the Department of Commerce and is eligible to receive assistance under the Industries Development legislation. The future investment requirement of the company is a matter for determination by the Northern Ireland Development Agency, in consultation with the company.