GKN: Proposed Takeover by Melrose Debate
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Lord Beamish
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GKN: Proposed Takeover by Melrose
Lord Beamish Excerpts(6 years, 8 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Greg Clark
When I receive the appropriate advice and make a decision as to whether an intervention is required, I will of course inform the House.
Mr Kevan Jones (North Durham) (Lab)
I thank the Secretary of State for his statement. He rightly raises the importance of GKN to our defence sector. In his statement, he said that
“in the event of a successful bid, the Ministry of Defence would look to require a legally binding commitment relating to the management of any defence contracts.”
What assurances has he had from Melrose about the protection of GKN’s intellectual property and classified contracts, particularly in relation to their sale to countries that we see as a security threat? Not only would that be a threat to UK security, but it would hinder our future co-operation with our “Five Eyes” partners in developing new technologies.
Greg Clark
These are all precisely the issues on which Melrose is required to reach agreement with the Ministry of Defence, for all the reasons that the hon. Gentleman states.