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Construction News
09/12/2016
Consortium Purchases 61% Of National Grid Gas Distribution
National Grid has sold 61% of its gas distribution business to a Consortium led by MacQuarie Infrastructure.
The £13.8 million deal, which involves 5,700 employees, will see 130,000km of pipes being transferred to their new owners.
The GMB Union welcomed the move, however National Officer Stuart Fegan warned these "infrastructure crown jewels" are "more than just a cash cow to be flogged the highest foreign bidder".
"GMB looks forward to meeting with the new owners of National Grid's gas distribution business to set out the priorities of our members who have been instrumental in the success of the business to date," he said.
"Staffing levels, succession planning, a directly employed workforce, terms and conditions, as well as pay and reward are the priorities for our membership going forward.
"However the Government must be mindful infrastructure crown jewels like this are more than just a cash cow to be flogged the highest foreign bidder – they are paramount to Britain’s industry and security."
(LM/MH)
The £13.8 million deal, which involves 5,700 employees, will see 130,000km of pipes being transferred to their new owners.
The GMB Union welcomed the move, however National Officer Stuart Fegan warned these "infrastructure crown jewels" are "more than just a cash cow to be flogged the highest foreign bidder".
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"GMB looks forward to meeting with the new owners of National Grid's gas distribution business to set out the priorities of our members who have been instrumental in the success of the business to date," he said.
"Staffing levels, succession planning, a directly employed workforce, terms and conditions, as well as pay and reward are the priorities for our membership going forward.
"However the Government must be mindful infrastructure crown jewels like this are more than just a cash cow to be flogged the highest foreign bidder – they are paramount to Britain’s industry and security."
(LM/MH)
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