B.A.C. MERGES WITH HAWKER
(N.Z. Press Association —Copyright) LONDON, November 22. Britain’s two biggest aircraft companies fighting intense competition from the United States are to merge their major interests in a giant concern partly owned by the State, the Associated Press reported today.
The Aviation Minister, Mr Frederick Mulley, told the House of Commons last night that the merger would “improve the competitive position of the industry in world markets.” Mr Mulley, whose Ministry will itself soon disappear in a merger with the Department of Technology, said the industrial streamlining has been agreed in principle by the two big manufacturers—the British Aircraft Corporation and Hawker Siddeley Aviation. The new company will start
with 68,000 workers in 22 factories building 20 different types of plane. Mr Mulley said the Government’s minority shareholding would be substantial. He gave no figure, but one industry official said it might involve a State investment of between £5O and £7O million.
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Bibliographic details
Press, Volume CVI, Issue 31224, 23 November 1966, Page 21
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155B.A.C. MERGES WITH HAWKER Press, Volume CVI, Issue 31224, 23 November 1966, Page 21
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