Stop GKN takeover

Workers from some of GKN’s biggest customers joined their colleagues from GKN today (March 1) to call on Theresa May’s government to block Melrose’s debt-fuelled takeover bid of the British-based engineer.

The show of solidarity by members of Unite the union at the Airbus site in Filton, Bristol came as GKN workers from the across the country to lobby MPs in Westminster yesterday (February 28).

Fearful a takeover by Melrose could lead to GKN being sold off piecemeal and jobs cut or shipped abroad, the GKN workers in aerospace, automotive and defence are calling to block the bid in the national interest.

“GKN can trace its roots back over 100 years at the Filton site in Bristol,” said Unite regional officer Steve Preddy. “It is feared that this hub of ingenuity, which has been home to iconic aircraft like Concorde, could be hit and jobs lost if Melrose succeeds with its debt-fuelled takeover of GKN.

Melrose debt fears

“Workers from across aerospace and some of GKN’s biggest customers are united in believing that GKN in Melrose’s hands would be bad for business and bad for workers.

“GKN will be saddled with over ÂŁ1.3 billion of debt if Melrose succeeds, while its advisors would pocket upwards of ÂŁ140 million in fees,” he added. “Workers are fearful that they will pay for this debt fuelled payday with their livelihoods with technology and jobs shipped abroad.

“The message from our members across aerospace is clear. Theresa May’s government must use its power to block the bid to protect jobs, communities and our national security.”