P527ORACLE 527 Mon30 Dec C4 1742:44
WESTLAND OPENS DOOR
TO EURO PLAN
The ailing British helicopter maker
Westland has opened the door to the
£72m rescue package proposed by a
consortium of European aerospace firms.
The company has called on the advisors
to the consortium to draw up a single
proposal to be sent to shareholders.
But chairman Sir John Cuckney said the
board would not comment on the proposal
although it would give an appraisal to
shareholders before they had to decide.
The move is certain to please Defence
Secretary Michael Heseltine who has
consistently backed the European plan.
* HOLIDAYS GALORE! * 580