HC Deb 01 April 1982 vol 21 cc159-60W
Mr. Grylls

asked the Secretary of State for Industry if he will list the disposal of assets made by the National Enterprise Board in the years 1979–80, 1980–81 and the total value of the annual disposals in each of those years.

Mr. Wakeham

The NEB has disposed of investments in the following companies:

  • 1979
    • Hird Brown Ltd.
    • ICL Ltd.
    • Total net proceeds: £37.6 million
  • 1980
    • Brown Boveri Kent (Holdings) Ltd.
    • Barrow Hepburn Group Ltd.
    • Computer and Systems Engineering Ltd.
    • Fairey Holdings Ltd.
    • Ferranti Ltd.
    • Middle East Building Services Ltd.
    • Newtown Securities (Northern) Ltd.
    • R. R. Chapman (Sub-Sea Surveys) Ltd.
    • Total net proceeds: £81.2 million
  • 1981
    • Automation and Technical Services (Holdings) Ltd.
    • CIC Investment Holdings Ltd.
    • Energy Equipment Ltd.
    • Ferranti Ltd.
    • Negretti & Zambra Ltd.
    • Systems Designers International Ltd.
    • Total net proceeds: £6.95 million (This includes a deferred consideration for CIC)

In addition, since the end of 1981, there have been further disposals as follow:

1982

  • George P. Brown Ltd.—net proceeds £1.1 million
  • Consine Ltd.—proceeds to arise from levy arrangements linked to product sales to 1985.
  • Insac Products Ltd.—certain assets have been sold to Britton-Lee Inc. in return for a minority shareholding in that company; disposal of the remaining assets is under negotiation.

Burndept Electronics Ltd. These companies were disposed of to Grosvenor Development Capital Ltd., a private sector company but one in which the National Enterprise Board retains a 29 per cent. holding.
Doyce Electronics Ltd.
F. W. Elliott (Holdings) Ltd.
Hydraroll Ltd.
Innotron Ltd.
Powerdrive PSR Ltd.
Sonicaid Ltd.
Thandar Ltd.
NEXOS Office Systems Ltd. Disposals of the assets are in varying stages of completion