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'Block GKN Takover'

Wednesday, April 4, 2018

GMB CALLS ON SECRETARY OF STATE TO BLOCK HOSTILE GKN TAKEOVER

Allowing the short term gain of speculators to influence the future of one of Britain’s oldest engineering firms sends a harsh message to GKN employees  - that profits come before their job security says GMB.

GMB, the union for automotive and aerospace engineering workers, has called on the secretary of state to block the hostile takeover of GKN.

The union says Greg Clark must intervene after allegations emerged short-term investors potentially influenced the decision to sell by shareholders. [1]     

Ross Murdoch, GMB National Officer, said:

“Allowing the short term gain of speculators to influence the future of one of Britain’s oldest engineering firms sends a harsh message to GKN employees - profits comes before their job security.

“Greg Clarke must stop this deal before it damages the UK economy further.

“GMB will fight to protect our members’ jobs and ensure the current UK business is maintained and will resist any attempt at asset stripping.”                                      

ENDS

Contact: GMB Press Office on 07958 156846 or at press.office@gmb.org.uk

Notes to Editors:

[1] https://amp.theguardian.com/business/2018/mar/30/corbyn-interests-city-speculators-put-above-jobs-gkn-takeover

 

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