§ Mr. Barry JonesTo ask the Secretary of State for Wales (1) how much money the Welsh Development Agency has put into Datamagnetics; and in what financial categories and in which years;
(2) how much money Her Majesty's Government has put into Datamagnetics; and in what categories and in which years;
(3) how many jobs are in existence at Datamagnetics; what efforts he and his agencies are making to assist the company to stay in business as a sizeable employer; and if he will make a statement.
§ Mr. Peter WalkerThe grants made and resources invested in Datamagnetics by the Government and the Welsh Development Agency are as follows:
£ thousands 1985–86 1986–87 1987–88 Regional development grant 71 400 212 Regional selective assistance — 732 — Support for innovation — 100 66 WDA equity 500 — 222 WDA factory improvements 702 — — WDA rent concessions 138 138 — At present, employment at the company stands at 165.
Prime responsibility for attempting to secure the company's future rests with the receiver who has said he is optimistic that it can be sold as a going concern. The Welsh Office and the WDA will also continue to assist in 16W whatever way they can. The agency has already drawn the opportunity presented by the business to the attention of a wide range of interests, including ones in the far east and the United States of America.
Even if the company cannot be sold as a going concern the factory's excellent location and facilities provide a valuable base to attract another user and create alternative job opportunities.