Cumbria Factory Closures (No.2.)

EDM number 1300 in 1992-93, proposed by DN Campbell-Savours on 02/02/1993.

That this House notes that the closure of the Circuit Foil UK plant in West Cumbria will be followed by substantial new investment in the company's No. 2 plant at Wilz in Luxembourg; questions whether the company has fully considered the financial implications of this investment for Arbed SA of Luxembourg, the main shareholder; believes that levels of productivity at the West Cumberland plant are the jewel in the crown of the group's European operations far exceeding those attained in the Wilz No. 2 plant; is convinced that the group's accountants have miserably failed to appreciate the competitive exchange rate conditions in the UK which must have a direct bearing on the company's export prices; recognises that the cost advantage of the currency, the higher levels of productivity and the current investment profile of the West Cumberland plant all point to the need for a rethink by Arbed of their decision to close their West Cumbria operations; calls upon the main board to release all documents relating to this decision, in particular their comparative assessments of the benefits derived from the rationalisation options that have been considered; and questions whether the Luxembourg Government, as a major shareholder in Arbed, is aware of the decisions that have been taken in its name.

This motion has been signed by a total of 79 MPs.