§ Mr. Gryllsasked the Secretary of State for Industry what is the total amount of money invested by the National Enterprise Board in each of the following investments, the proceeds from the sale of these investments and the liability of loss to public funds in the event of their going into liquidation: Barrow Hepburn, Brown Boveri Kent. Negretti and Zambra Limited, A. Herbert Limited, Agemaspark, Aqualisa, ASR Sevotron Limited, Automation and Technical Services (Holdings) Limited. British Tanners Products Limited, CAP-CPP Group Limited, RR Chapman (Sub Sea Surveys) Limited. Computer & Systems Engineering Limited, Doyce Electronics Limited, The Energy Equipment Company. Exelare Engineering Company Limited, Hird Brown Limited and James Howorth & Co. (Holdings) Limited.
§ Mr. Michael MarshallThe details are as follows:
NEB Investments (£000) company Share investments Loans Barrow Hepburn Group 450 — Brown Boveri Kent 3,293 — Negretti and Zambra Limited 1171 — Herbert Limited 57,168 — Agemaspark Limited 562 438 Aqualisa Products Limited 169 50 ASR Servotron Limited 318 — Automation and Technical Services (Holdings) Limited 150 — British Tanners Products Limited 2,000 2,500 CAP-CPP Group Limited 549 450 RR Chapman (Sub Sea Surveys) Limited 50 — Computer and Systems Engineering Limited 930 900 Doyce Electronics Limited 117 — Energy Equipment Company Limited 500 300 Excelarc Engineering Company Limited 70 — Hird Brown Limited 250 150 James Howorth & Company (Holdings) Limited 116 125 (Details as at 31 January 1981 or at date of disposal (where appropriate). The NEB has sold its shareholdings in Barrow Hepburn (£0.27 million), Brown Boveri Kent (2.6 million) and Computer and Systems Engineering (£2,200 million). The disposal proceeds from RR Chapman and Hird Brown, which have not been published, are a matter for the board. The NEB's investment in ASR was written off when the company went into receivership. In the case of British Tanners the NEB has made provision in its accounts for an estimated loss of £5.6 million.
Provision will be made for the loss of its investment in Herbert in the board's 1980 accounts.
The extent of any loss of public funds in the event of any of the NEB's other investments going into liquidation would depend on the size of the NEB's investment and in the case of NEB subsidiaries on their trading position at the time. In deciding on its practice in relation to the debts 373W of its subsidiaries the NEB is required under its guidelines to have regard to the practice of companies in the private sector in relation to the debts of their subsidiaries. There will be no Government guarantee to the creditors of a subsidiary of the board unless the Government have undertaken a specific commitment in relation to that company's debts.
§ Mr. Gryllsasked the Secretary of State for Industry what is the total amount of money invested by the National Enterprise Board in each of the following investments, the proceeds from the sale of these investments and the liability of loss to public funds in the event of their going into liquidation: Muirhead Office Systems Limited, Newtown Securities (Northern) Limited, Pakmet International Limited, Q1 (Europe) Limited, Sinclair Radionics Limited, Systems Designers International Limited, Systems Programming Holdings Limited, United Medical Enterprises Limited, Vicort of London Limited, Legibus Twelve Limited, Middle East Building Services Limited, Microform Communications International, Technical Resources (Equipment) Limited, Ferranti Resin Limited and Wholesale Vehicle Finance Limited.
§ Mr. Michael MarshallThe details are as follows:
NEB investments (£'000) Company Share investments Loans Muirhead Office Systems Limited 210 — Newtown Securities (Northern) Limited 125 — Pakmet International Limited 247 75 Q1 Europe Limited 2,750 — Sinclair Radionics Limited 5,350 2443 Systems Designers International Limited 184 325 Systems Programming Holdings Limited 600 1,000 United Medical Enterprises Limited 5774 450 Vicort of London Limited 140 100 Nexos Office Systems (Holdings) Limited (formerly Legibus Twelve Limited) 137 — Middle East Building Services Limited 37 — Microform Communications Limited 570 — Technical Resources (Equipment) Limited 237 100 Ferranti Resin Limited 294 50 Wholesale Vehicle Finance Limited 7,246 3,602 (Details as at 31 January 1981 or at date of disposal (where appropriate)). The NEB has sold its shareholdings in Newtown Securities, Systems Designers International, and Middle East Building Services. The proceeds for Systems Designers International were £1.2 million. The proceeds from other disposals which have not been published are a matter for the board. The NEB's investments in Pakmet and Technical Resources were written off when the companies went into receivership, as was its holding in Sinclair Radionics when the company was reorganised in 1979. Provision for any losses on the NEB's investment in Microform, which is now in receivership, will be made in the board's accounts for 1980.
374WThe extent of any loss of public funds in the event of any of the NEB's other investments going into liquidation would depend on the size of the NEB's investment and in the case of NEB subsidiaries on their trading position at the time. In deciding on its practice in relation to the debts of its subsidiaries the NEB is required under its guidelines to have regard to the practice of companies in the private sector in relation to the debts of their subsidiaries. There will be no Government guarantee to the creditors of a subsidiary of the board unless the Government have undertaken a specific commitment in relation to that company's debts.
§ Mr. Gryllsasked the Secretary of State for Industry what is the total amount of money invested by the National Enterprise Board in each of the following investments, the proceeds from the sale of these investments and the liability of loss to public funds in the event of their going into liquidation: Hydraroll Limited, George P. Brown (Holdings) Limited, Duo Rubber and Engineering Co. Limited, Innotron Limited, J. & P. Engineering Limited, Logica Holdings Limited, Logica Securities Limited, Logica VTS Limited, Mayflower Packaging Limited, Monotype Holdings Limited and Momex (UK) Limited.
§ Mr. Michael MarshallThe details are as follows:
NEB investments (£'000) Company Share investments Loans Hydraroll Limited 115 — George P. Brown (Holdings) Limited 575 600 Duo Rubber & Engineering Company Limited 160 — Innotron Limited 244 — J. & P. Engineering Limited 100 100 Logica Holdings Limited 1,196 100 Logica Securities Limited 1,000 — Logica VTS Limited 1,805 — Mayflower Packaging Limited 120 — Monotype Holdings Limited 1,875 1,950 Momex (UK) Limited — 35 (Details as at 31 January 1981 or at date of disposal (where appropriate)). The NEB's investments in J. & P. Engineering and Mayflower Packaging were written off when the companies went into receivership.
The extent of any loss of public funds in the event of any of the NEB's investments going into liquidation would depend on the size of the board's investment and in the case of NEB subsidiaries on their trading position at the time. In deciding on its practice in relation to the debts of its subsidiaries the NEB is required under its guidelines to have regard to the practice of companies in the private sector in relation to the debts of their subsidiaries. There will be no Government guarantee to the creditors of a subsidiary of the board unless the Government have undertaken a specific commitment in relation to that company's debts.