§ Mr. Parkasked the Secretary of State for Trade and Industry if the full purchase price for Coventry Climax was paid to British Leyland before Coventry Climax went into receivership; and if he will make a statement.
§ Mr. Giles ShawRover Group's interests are fully protected. It would be inappropriate for me to comment further whilst the receiver is attempting to secure bids for the three businesses involved.
§ Mr. Nellistasked the Secretary of State for Trade and Industry if he will give a breakdown of the consortium which purchased Coventry Climax for British Leyland in 1981; what financial securities were offered to British Leyland as part of the sale; and if he will make a statement.
§ Mr. Giles ShawCoventry Climax was acquired by Climax Holdings Ltd. I am not able to provide information beyond that which can be obtained from returns filed at Companies House, or otherwise released by the company. The Rover Group's financial interest is fully protected, and the details are a matter for the parties concerned.
§ Mr. Nellistasked the Secretary of State for Trade and Industry what information he has as to the performance of Coventry Climax for 1975 to 1981 and 1981 to 1986, covering output, employment, turnover and profit/loss.
§ Mr. Giles ShawI am not able to provide information beyond that which can be obtained from returns filed at Companies House or otherwise released by the company.
§ Mr. Nellistasked the Secretary of State for Trade and Industry what was the agreed purchase price when Coventry Climax was privatised from British Leyland; on what date the sale was agreed; what arrangements were made for the payment to British Leyland of the agreed price; if those arrangements were honoured; and if he will make a statement.
§ Mr. Giles ShawI shall reply to the hon. Member as soon as possible.
§ Mr. Nellistasked the Secretary of State for Trade and Industry what is Her Majesty's Government's policy on the reacquisition of Coventry Climax by British Leyland, and the restoration of manning levels to pre-1981 levels; and if he will make a statement.
§ Mr. Giles ShawThe Government have no such plans and have received no such proposals from the Rover Group.
§ Mr. Nellistasked the Secretary of State for Trade and Industry what steps his Department is taking to assist Coventry Climax following receivership.
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§ Mr. Giles ShawMy Department stands ready to consider any proposals put forward by the receiver or by any prospective purchaser of all or part of the business.