ICI'S CORPORATE FUTURE

EDM number 997 in 1990-91, proposed by Frank Cook on 19/06/1991.

That this House recognises the anxiety of workers at all levels, present and past, of Imperial Chemical Industries at the possibility of Hanson plc augmenting its 2.8 per cent. holding of ICI's shares to gain a controlling interest in the company's affairs; understands the concern of conurbations where ICI units are located that mature relationships between the company and these communities could be destabilised by such a change should it be brought about; acknowledges advice given by Imperial Pensioners (Tobacco and Food) by letter dated 12th June 1991 to the honourable Member for Stockton North in which they 'recommend vigilance and scrutiny concerning both the intentions and the actions of Hanson plc in so far as they can be readily established or are publicly revealed' and commends ICI for committing the affairs of its company pension funds to an independent board of trustees; acknowledges too the Secretary of State's assurance that he 'shall take an interest - if there were to be a bid' and 'consider representations from interested parties before reaching any decisions'; is of the firm opinion that considerations of national, regional and community interests in relation to this affair require firm handling by Her Majesty's Government; and therefore calls upon the Prime Minister to ensure that Ministers and officials do everything to make certain the matter is resolved in this country and in accord with the expressed wishes of the company, its workforce, its pensioners and the communities in which it is established.

This motion has been signed by a total of 111 MPs, 1 of these signatures have been withdrawn.