19
Press Extrad
4
the line 19/6/64
u, fissex, seen from the air. The Company is to add 300,000 sq. 8. divated in white at a total cost of £18m. The L-shaped sectiune ad the square area wilt house computer-controlled components.
$ $18m ansion
mptres.
It also exports £Sm./worth
of industrial engines a year,
Mest of the £18in, will be spent on quipping the new engine put with he latest automated machinery. It ill be capable of producing a fully, machined cylinder block Ind head Very 30 bonds, Built- fault- sacmg device will maintain quality antrol throughout the profess.
Degute the question afrks raised snost Pord's investment plans in
United Kindom every time it uns into serious labour froubles, it % HOW Spent £387m. here since 984. This represents 38 per cent of De 11004m, mysted by the whole
tish motor industry if that period. Sre than 100m), of this has been bent at Dagenham the more than
a
any other motor pliul in Britain. These development represent age measure of capital intensitica- on in addition to here expansion in the ground, Allough the work ree has increased by 60 per cent 1 the past 15 years the invested capi- 1 per employce hafɣrisen 2.3 times from 1,182 to 3731. In this. criod Food has more than trebled wake of operations. The amount capital employed has grown 3.7 ines, while floor/space production. d exports have fach multiplied by
threatened delay
nch would hove
mereused the burly rates of about 400 elecqueians d mates by Sd, and 4d, respectively. Both the Bettlement and the pro- gals inclufled provisions, for a 10%, day prifienvity bonits, including bekend workout, subpvt to explain
To be that the in lew, wild le comitaty to the
Fun Calle, Secretary for Fiiplay
and Productivity, tro.e
the bourd
Was
Teaser while
stigating them. She could 17 p the freeze almost until
kamilifu, an*
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úverimme
Textiles chick
critical of tariff level
The new tariff system proposed in the Textile Council's recently published report on its study of productivity and efficiency in the industry fails to give a reasonable depred of protection against unfair competition from low-cost Countries. Edmund Gartside, chaurman of Shiloh Spinners, the Lancashire-based cotton spinning group, warned yesterday,
Mr. Cartside, who is a member of the council's study group added a section of his own to the report dissenting from some of the mixin findings, was speaking at his com- pany's annual meeting in Royton, Lancashire.
He said: "The trade has now had three months to discuss and digest the findings of this study. The view that is beginning to emerge is that the level of tariffs suggested will be quite inadequate to give the trade a reasonable degree of protection.”
He said that on many imported cloths there were already differences of between 19 and 38 per cent in the price of cloth imported into the United Kingdom for home retention and the much lower price of the sane cloth imported for re-caport.
This suggested
that the tariff recommended of 15 per cent on grey cloth would be totally inadequato because it was the re-export price which was the true selling price on which the 15 per cent tariff would be levied.
Mr. Gartside said: “Substitution of a tariff for quotas is not only unlikely to resul in any substantial change in the price of imports. but nay even result in lower import prices and allow the low-cost coun- tries almost unlimited access to the United Kingdom market "*.
Jam
Mr. Cartside continued 2 firmly of the opinion that it will he necessary to retain the present quola system for an undefinite period on. Alternatively, to introduce a intiff of in duplica Txel Hum tind suppested by the Textile Commit
i thought a Kartli at about 25 to 30 per cent would be necessary, smply to contain imports at their present level.
con
ships. The bodies are British 1 urő pean Airways and Btish OversCUR
irway, Coporation, and theế Civil Aviation Authority and the National Air Holdines Board, both of which WATC recommended for establish- meat by the Edwards commilice on the future of civil aviation a res commendation which Anthony Cross land, President of the Board of Trade is likely to accept.
"The\B.F.A. and B.O.A.C. chair- manships were timed to fall vacant the end of this year In Case Edwards suggested merging the corporations. This view was not, in the event, embraced by the com- mittee.
Who arc the candidates over whom the Government have already started to cash its fly?
To take the state airlines first, neither of the resent chairmen, Sir Anthony Milward (B.E.A.) and Charles Hardie B,O,A.C), will go on for another Arm. Sir Anthony will retire from the office in which he succceded Lord Douglas of Kirtleside in 1964, while Mr. Hardie, an interim choice to Yil the vacuum' between the departure of Sir Giles Guthrie, and the implementation of Fawards, will concentrate on his accountancy business and his other chairmanships, which include the White Fish Authority.
Nor should it be assumed that the deputies in either of the corporations will automatically step up. Henry Marking, chief executive of BÆA, and Keith Granville, deputy chair-
inan
and managing director of B.O,A,C., could gain promotion in the classic tradition, but there appa to be just as much chance that othe candidates may be selected from off the boards, Aniong the names regeit. ing careful consideration are Ross Stainton, deputy managing director\ of B.O.A.C., and Sir Richard Way, former permanent secretary at the Ministry of Aviation, and now member of the board of B.Ø.A.C.
It may be, however, that the Gov-
AL
mvnica MLN.
1 KANA
time of Sir Baal Smallpeice, munap ing director of fig witling between 1936 and 1963 atki now chairman of Cunard, is Being mentioned.
Another possibility being explored Is the appointment of distingished retired Royal Air Force offices. Air Marshal Sir Christopher Hartley, com troller of aircraft at the Ministry of Technology since 1966, and Marshal of the Royal Air Force Sf Charles Elworthy, Chief of the Defence Staff, would obviously be among this typo of candidate.
Another in this clasy whose name is being canvassed is froup Captain Douglas Bader, the Battle of Britain fighter ace, who has recently retired from running Shell'aviation division, and whose arrival would give the morale of either corporation an initial "shot in the arm". The Government wist harbour deep reser- vations over the appointment of any military man however, in view of the mixed reception which it would receive froth the stalls, in particolar the pilots with whom relations con- tinue to be very edgy.
While any of those I have men- tioned could become chairman of one of other of the corporations, so equally could any of them be selec- ted lend either the Civil Aviation Authority, the body which is to have overall control of the industry, or the holdings board, designed to have
nancial and policy control over A.E.A. and B.O.A.C. and to prevent them overlapping. But two other significant candidates come into the picture when these two new organiza- tions are considered. Sir Anthony Milward would seem a natural choice for the chairmanship of the holdings board, while Peter Masefield, B.E.A. chief executive 1949-55, managing director Bristol Aircraft 1955-60, and now chairman of the British Air- ports Authority and Beagle Aircraft, can never be discounted when any top British aviation job is going Bogging.
Marsh warns state sector
A warning to nayonalized indus- tries that they must pay their way came yesterday from Richard Marsh, Minister of Transport. Ho said that the government are not prepared to see state industries run like sofiad services.
In an article in the latest issue, For the Journal of the City of West- minster Chamber of Commerce. Mr. Marsh nakes it clear that the Gov-
Readers
ernment are determined to secure an adequate return on the £9,500m. assets employed in the state sector.
"Some people recognize that cer- tain services neither con nor should produce a profit social services, like hospitals and schools ", he writes.
Although Mr. Marsh made it quito clear he was not advocating any reduction in Aublic sector spending, he stressed the importance of a return on capital.
BUSINESS NOTICES
dre recommended to
take appropriate professional advice before entering obligations
A LETTER TO ALL INVESTORS INTERESTED IN 20%-40% RETURN ON CAPITAL, TROKE PAYMOHD CAMÍ, ALANACANG DIRTELOR,
APGAVEN
KENITH ROWE & COMPANY
Offer a variety of Directorships and Partuer. Ahips available in various Businesses with dillering degrees of participation and with no jave-beerd range a frean 4,900 to $5,000 write, blertas or call
16, RHUTY NOTI, HERNINGHAM IL
Jes 4.
RECEIVED IN REGISTRY No.51)
19 JUN 1969