Skip to main content

Motor Cars (Stainless Steel Components)

Volume 887: debated on Monday 3 March 1975

The text on this page has been created from Hansard archive content, it may contain typographical errors.


asked the Secretary of State for Industry in view of the creation of 300 jobs in South Wales in the manufacture of stainless steel parts for motor cars by the British Steel Corporation and Grundy Limited, if he will give an assurance that no public money will be used to subsidise this venture in view of the redundancy and over-capacity in other parts of this industry especially in Lincolnshire.

No. We are anxious to encourage sound employment-creating projects in Ebbw Vale to replace those to be lost in steel, and have said that full use will be made of all available incentives. If the company applies for assistance its application will receive sympathetic consideration in the light of this.

End of accounting periodAverage number of employees in the United KingdomNet assets*
£ million
Ford Motor Company31st December 197367,000276
Esso Petroleum Company31st December 197310,026434
Gallaher31st December 197318,398157
Consolidated Tin Smelters31st December 19731,31422
Philips Electronic and Associated Industries31st December 197361,339235
Rank Xerox31st October 197310,76222
Chrysler United Kingdom31st December 197330,88353
IBM United Kingdom Holdings31st December 197312,428133
Vauxhall Motors31st December 197334,36586
Massey-Ferguson Holdings31st October 197318,90757
Standard Telephones and Cables31st December 197339,067111
Mobil Oil Company31st December 19732,40581
International Nickel31st December 19734,25842
Mars31st December 19739,12728
Alcan Aluminium (UK)31st December 19739,469110
Conoco31st December 19731,72459
Hoover31st December 197314,86069
Michelin Tyre Company31st December 197317,27489
Kodak28th October 197312,76873
H. J. Heinz Company27th April 197410,55051
* Fixed and intangible assets at book values net of accumulated depreciation, plus current assets and investments less current liabilities including bank overdrafts and loans and future tax.