§ Mr. Teddy TaylorTo ask the Secretary of State for Northern Ireland what progress has been made in the management buy out of Harland and Wolff; and if he will make a statement.
§ Mr. Viggers[holding answer 17 July 1989]: Over the last few weeks progress has continued on the drafting of legal documents to enable completion of the sale of the business to a new company being set up by the MEBO/Olsen team. I was encouraged that the trade unions have endorsed new terms and conditions included in offers of employment sent to members of the work force on behalf of the new company on 6 July. Subject to EC approval (expected by the beginning of August) and the satisfactory conclusion of other pre-contract conditions, the sale of the business should be complete in September.