“The UK has seen a recent spate of foreign takeovers of UK defence companies.” Mr Evans said, mentioning the purchase of GKN by Melrose, as well as the sale of Cobham and potential sale of Meggitt. Despite promises from buyers to preserve jobs in the UK, assets of British companies have been sold off, factories have been closed, and people will be made redundant.
Mr Evans said that sales such as these are concerning if promises to maintain investment in the UK are not upheld. “There is a worry that this will result in a fall in research and development investment and in manufacturing capabilities.” Mr Evans said.
“The government needs to ensure that there are firm commitments that jobs are not lost, and that investment does not dry out if British defence companies are sold abroad.
“We already face a cliff edge in skills in the defence sector, so it is vital that sales of British defence companies to foreign companies do not result in an atrophying of an excellent skills base.