As you will know Dear Reader, this organ is now based in Penwith, Cornwall. We can therefore report that there is great concern to those in this community that a significant employer might be laying off hundreds of staff.
This is of particular concern for two reasons:
1. This is an area that desperately needs employment.
2. The jobs under threat are the most valuable as these are high paid, high skilled jobs.
The jobs in question are at Pall Corporation, which has bases in St Columb Major and Redruth. There is growing concern for the future of hundreds of jobs at this scientific engineering company after it was announced that it has been taken over by the US industrial and healthcare equipment company Danaher Corporation in a $13.8bn all-cash deal.
Mr Larry Kingsley, Chairman and Chief Executive of Pall Corporation, stated: “This transaction delivers substantial value to our shareholders and creates an incredible opportunity for long-term growth that will benefit all of our stakeholders. Pall is a complementary fit for Danaher, with Danaher’s proven management system and strong financial position coupled with Pall’s expertise, brand and channel strength in the field of filtration and separation science enabling the creation of tremendous value for the global customers of the combined company. Our employees will benefit by being associated with a world-class company that has the capability to further enhance Pall’s market position.”
At first glance this appears to have the strong potential of being a repeat of the Kraft Foods takeover of Cadbury and plant closure. These fears are well based as Pall announced that it was intending to move “the majority” of its industrial manufacturing from Redruth to Slovakia. The company said it would “migrate appropriate products to the site, which due to its location and currency, will improve margin and reduce currency risk.”
British Gazette translation: It wants to locate the operation in the Eurozone to take advantage of this and in the Eurozone member Slovakia because of its low wages, low tax rates and well educated labour force.
Thus there is a real fear that the new US owners may pursue an even worse policy of transferring those jobs Mr Kingsley had planned to move to Slovakia in 2013 and take the remainder of the jobs back to the USA, thus leaving St Columb Major and Redruth with nothing.
This clearly shows that the UK has TWO real long term choices:
1. Continue in the European Union but within the Eurozone.
2. Leave the European Union and also the European Economic Area.
NB: The Europhile politicians who will be arguing for voters to remain inside the EU but outside the Eurozone will state that this to have the BEST of both worlds; access to the EEA’s single market (they LIE when they say the EU’s single market) and remain outside of the Eurozone. Such a situation is not the best of both worlds but the WORST.
If the UK was outside the EU and the EEA it could make its own trade deals as a WTO member in it’s own right and set it’s own trade policies. It could also control the numbers of people migrating to it.
Please note the following FACTS:
1. In the not too far distant future the number of wealthy middle class consumers in China and India will dwarf those living in the EU.
2. The UK has a section of it’s population whose forebears came from India. The cultural and familial links gives the UK a tremendous trading advantage.