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Astra Zeneca Bid Not Good News

Monday, April 28, 2014

Hostile Pfizer Bid Is Not Good News For GMB Members At Astra Zeneca Or For The UK Economy

What we face here is a hostile approach by US company to eventually migrate these well paid UK based manufacturing and R&D to the Far East which should be blocked says GMB.

GMB, the union for staff at Astra Zeneca, commented on the hostile takeover bid for the company from US based Pfizer.

Allan Black, GMB National Officer for the chemicals industry, said "this is not good news for GMB members at Astra Zeneca. It piles one insecurity on top of another. It is not good for the UK economy either.

George Osborne the MP for the area in the North West where the company has its main facilities said this is a purely commercial matter. GMB does not agree.

What we face here is a hostile approach by this US company to eventually migrate these well paid UK based manufacturing and R&D to the Far East.

If the bid materialises UK Government should refer it to the competition authorities.

GMB seriously questions the commitment of Pfizer to manufacturing and R&D in the UK.

GMB will need a bankable commitment that manufacturing and R&D will continue here.

The relocation of the Astra Zeneca R&D from Cheshire to the science park in Cambridge is currently being handled quite well. GMB will also want a bankable commitment that the site will be built, occupied and operated.

The UK Government has an absolute duty to act to protect against these jobs being migrated away for the UK. The UK already has a balance of payments deficit which will be made worse if these jobs are allowed to be migrated to the Far East."

End

Contact: Allan Black 07725 100316 or Eddie Parker in North West 07740 804046 or GMB press office 07921 289880 or 07974 251 823

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