FlightGlobal.com
Home
Premium
Archive
Video
Images
Forum
Atlas
Blogs
Jobs
Shop
RSS
Email Newsletters
You are in:
Home
Aviation History
1951
1951 - 0225.PDF
1 FEBRUARY 1951 FLIGHT 23 Midland Bank 0 Services for those who travel by air As part of the policy of making banking services available wherever they are needed, the Midland Bank has established branches in the passengers' arrival halls of the principal airports. A complete, banking service is provided at these offices, including facilities for foreign exchange and other special requirements of the traveller. Midland Bank Airport Branches are at: NORTHOLT FELTHAM CROYDON MANCHESTER HAWKER SIDDELEY GROUP LIMITED T. O. M. SOPWITH ASKS FOR URGENCY IN REARMING BRITAIN, ALLIES Needed Aircraft Cannot Be Built Overnight DIRECTION OF LABOUR The 15th annual general meeting of Hawker Siddeley Group, Ltd.,was held on January 24 in London. Mr. T. O. M. Sopwith, C.B.E. (the chairman), in the course of hisspeech said that although there had been a decline in export turnover their overseas business had, nevertheless remained at a substantiallevel and the financial results of the year 1949-50 were, he hoped shareholders would agree, satisfactory. It was still the intention of the board, when permission could beobtained, to make their issued capital more realistic by the capitalisa- tion of a portion of their reserves. The board were again recommend-ing a final Ordinary dividend of 17J per cent, making ^2J per cent for the year. In the opinion of the board there could be no doubtas to the propriety of modernising the capital structure. It was especially desirable in view of the international prestige of the organi-sation which had made, and was making, noteworthy contributions to the nation's export drive. They felt that the authorities shouldtake a broader ww in such an undertaking as theirs. They were continuing the policy of building up very necessaryreserves for replacement of fixed assets and for development. The development of new aircraft and power units involved continual re-placement of plant and equipment. It was essential that ample re- sources should be available. GENERAL SURVEY The chairman continued: In these days we are living under theshadow of a world-wide catastrophe. The times are sadly reminiscent of Munich and the " phoney war." Call it what you will—policeaction, the troubles of an uneasy peace, or undeclared war—British, Commonwealth, and Allied troops are being killed in Malaya andKorea. At the United Nations in Lake Success our envoys and our intentions are being insulted and ridiculed in much the same manneras at Berchtesgaden of unhappy memory. If the situation deteriorates —and it may deteriorate rapidly—are we as a nation and a Common-wealth prepared? Have the R.A.F. and the Commonwealth air forces the defensive strength they require to preserve the security and free-dom of our peoples? We believe the answer is no. We look across the ocean and see our great ally, the United States, girding its vastproduction machine to the preservation of peace. Without violating security details we know that similarly here in Western Europe, H.M.Government, and the Governments of our allies, have planned major increases in our fighting strength. Big programmes are under con-sideration. Initial orders have been placed. But remembering the lessons of the last war we plead the case forurgency, for an expedition of plans and orders, because we know that aircraft in sufficient numbers cannot be built overnight. Whilst time isticking away the defence and freedom of our country are in jeopardy. It is our considered belief that a national emergency exists. We be-lieve the facts are there for all to see. As a group we have done everything that we humanly can do to put ourselves in readiness forthe rearmament programme. In collaboration with the Government we have developed new and revolutionary types of aircraft and engines,many of which are still on the secret list. Many new and advanced types of military aircraft are in various stages of development andproduction throughout the group. Your group has maintained its lead- ing position in the field of advanced scientific development of aircraft,including rockets and guided missiles. In each branch of the group's widespread activities there has beencontinuous and satisfactory progress. MANAGEMENT AND LABOUR Within the period under review there were 38,000 employees inyour group. I am happy to be able to report that we have again enjoyed excellent relations between management and labour. Withoutany doubt the strengthening of our labour force with the rapidly in- creasing requirements of the rearmament programme is going to be amatter of serious concern to your board. At the peak of our production in the last war we employed over 100,000 people—men and women.Where and when we are going to get even a similar-sized labour force of similar calibre is a very pressing problem that must be faced,not only by your group but by the Government. We feel the time is rapidly approaching when direction of labour into key rearmamentindustry must be envisaged. Our best hope of avoiding a third world war is to be prepared.In the last war your company produced over 40,000 aeroplanes and over 38,000 engines. That was a great achievement. But do rememberthat that kind of production cannot be achieved overnight. We of the Hawker Siddeley Group are prepared to play our full part in therearming of Britain, the Commonwealth and Western Europe. But we believe the time to start is to-day—to-morrow may well be toolate. The report and accounts were adopted
Sign up to
Flight Digital Magazine
Flight Print Magazine
Airline Business Magazine
E-newsletters
RSS
Events
