Sheffield Forgemasters

Lord Holmes of Richmond Excerpts

Wednesday 8th September 2021 Lords Chamber

[Baroness Goldie (Con)]

It means that the company has an ascertained level of demand from the MoD but, as I said earlier, it also has a very healthy suite of non-MoD, commercial customers. Part of the challenge that the MoD is embracing with the current management of the company is to ensure that that side is grown as well, but the money that the MoD is providing will be directly and singularly applied to the needs of the company to address the MoD customer requirement.

[Lord Holmes of Richmond (Con)]

My Lords, I too welcome the acquisition of Sheffield Forgemasters International Ltd. May I ask my noble friend what impact this will have on companies bidding now or in the future for defence contracts?

[Baroness Goldie (Con)]

My noble friend asks an important question. We operate under strict regulations that preserve the commercial market. Where competition exists, MoD contracts are tendered in an open and fair competition and companies will not be disadvantaged from bidding for MoD contracts where they have the required capability.