• Short Summary

    A BRITISH FIRM HAS DENIED IT MADE EXCESSIVE PROFITS ON A MISSILE IT DEVELOPED FOR THE GOVERNMENT.

  • Description

    1.
    GV. BLOODHOUND LAUNCH PAD
    0.04

    2.
    LV.PAN...BLOODHOUND TAKES OFF
    0.10

    3.
    LV. BLOODHOUND IN FLIGHT
    0.18

    4.
    LV. BLOODHOUND EXPLODES
    0.26

    5.
    SV. SOF BEGINS: "MR. DE FERRANTI, IS ONE-HUNDRED PER CENT..." SOF ENDS: "...ON THE WAY NEGOTIATIONS GO."
    2.07


    TRANSCRIPT: (SEQ 5) QUESTION: "MS. DE FERRANTI, IS ONE-HUNDRED PER CENT PROFIT ON FOUR-AND-HALF MILLION POUNDS A REASONABLE ONE?"



    DE FERRANTI: "NO...IT'S A VERY SILLY FIGURE TO TAKE. IN ISOLATION IT MEANS NOTHING. WE HAVE A VERY REAL RESPONSIBILITY TO THOSE PEOPLE WHOM WE EMPLOY AND WHOM WE ENCOURAGE TO COME AND WORK WITH US...AND WE'VE TAKEN ON AN EXPORT BUSINESS ALL OVER THE WORLD...AND TO PRODUCE THIS FIGURE IN ISOLATION MEANS NOTHING."



    QUESTION: "IS THERE ANY SUGGESTION THAT YOUR FIRM HAS DONE ANYTHING UNDERHAND OR SLY?"



    DE FERRANTI: "OH, I DON'T THINK SO. THERE CERTAINLY SHOULDN'T BE. I THINK I SHOULD POINT OUT THAT HAD WE LOST THE MONEY WE WOULD HAVE HAD NO REDRESS, AND WE'VE NEVER BEEN ACCUSED OF NOT BEING COMPETITIVE - AND THIS IS BORNE OUT BY US TAKING ON THIS EXPORT BUSINESS ALL OVER THE WORLD, AND, OF COURSE, THE GOVERNMENT HAVE A VERY HIGH LEVY ON THIS EXPORT BUSINESS WHICH HAS AMOUNTED TO MANY MILLIONS OF POUNDS."



    QUESTION: "WHY WON'T YOU SHOW THE GOVERNMENT YOUR BOOKS THEN?"



    DE FERRANTI: "BECAUSE WHEN YOU TAKE ON A FIXED-PRICE CONTRACT YOU MUST ASSUME THAT THE CONTRACT REPRESENTS THE INTENTIONS OF THE GOVERNMENT -- AND THE CONTRACT MAKES NO MENTION OF THIS."



    QUESTION: "ARE YOU GOING TO PAY BACK THEM THE MONEY?"



    DE FERRANTI: "WELL, THEY ARE VERY IMPORTANT CUSTOMER OF OURS, THE MINISTRY OF AVIATION, AND I'M ANXIOUS THAT THEY SHOULD NOT ONLY REGARD US AS TECHNICALLY COMPETENT BUT ALSO PROPER PEOPLE TO DEAL WITH."



    QUESTION: "HOW MUCH WOULD YOU GIVE BACK?"



    DE FERRANTI: "THIS WILL DEPEND ON THE WAY NEGOTIATIONS GO."




    Initials JT/VISLIB-B/RM/JG


    EDITORS: PLEASE NOTE THAT THE SOF EXTRACT IS A TELERECORDING.

    Script is copyright Reuters Limited. All rights reserved

    Background: A BRITISH FIRM HAS DENIED IT MADE EXCESSIVE PROFITS ON A MISSILE IT DEVELOPED FOR THE GOVERNMENT. THE WEAPON IS THE GROUND-TO-AIR BLOODHOUND MISSILE, AND THE GOVERNMENT HAS ESTIMATED THAT THE FIRM MAY HAVE A GBP4 1/2 MILLION PROFIT ON THE CONTRACT.

    MR. SEBASTIAN DE FERRANTI, 36-YEAR-OLD CHIEF OF THE FIRM FERRANTI LIMITED, SAID IN LONDON TODAY (WEDNESDAY) THAT THE CURRENT CRITICISM WAS ONLY BECAUSE HIS COMPANY HAD MADE "A TREMENDOUS SUCCESS" OF THE MISSILE.

    FILM BEGINS WITH LIBRARY MATERIALS OF THE BLOODHOUND IN FLIGHT -- THE MISSILE WHICH HAS ALSO BEEN BOUGHT BY THE AIR FORCES OF AUSTRALIA, SWEDEN AND SWITZERLAND. IT ENDS WITH MR. DE FERRANTI COMMENTING (SOF) ON THE CRITICISM.

    AT PRESENT, TWO SEPARATE INQUIRIES ARE LOOKING INTO THE WHOLE DEAL -- ONE A THREE-MAN GOVERNMENT COMMITTEE, THE OTHER A PARLIAMENTARY FINANCIAL COMMITTEE.

  • Tags

  • Data

    Film ID:
    VLVA7SA1OETE0OOGTEMXRTNOKLPCM
    Media URN:
    VLVA7SA1OETE0OOGTEMXRTNOKLPCM
    Group:
    Reuters - Source to be Verified
    Archive:
    Reuters
    Issue Date:
    01/04/1964
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Black & White
    Duration:
    00:02:07:00
    Time in/Out:
    /
    Canister:
    N/A

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