‘Major concerns’ over Dee Valley water takeover say local MP’s – Wrexham.com

Published: Wednesday, Nov 16th, 2016

The Dee Valley Water takeover will ‘raise major concerns for its employees – and its customers’ say local MP’s Ian Lucas and Susan Elan Jones.

Earlier today we reported how Dee Valley Group PLC is to be acquired by Severn Trent PLC for £78.5 million. A month ago the company had agreed a £71m deal with Ancala Fornia Limited, however today it has been announced that the company is being sold elsewhere in a precisely 10% better deal with Severn Trent.

Wrexham’s MP Ian Lucas and Clwyd South MP Susan Elan Jones, who have said they have “strong reservations” about the takeover of Dee Valley Water by Severn Trent Water in a £78.5 million takeover.
Mr Lucas discussed the proposals with Dee Valley Water staff after the announcement this afternoon and made clear his concerns about the impact the proposals could have.
He said: “I am very concerned at these proposals and have made my concern quite clear to Dee Valley Water.

“Dee Valley Water has been a small and quietly efficient company, which has gone about its business serving our area well in the past few years. It is now facing a takeover by a multinational company, and I am concerned that profits, rather than service, will be put first.

“This announcement came in the week that the UK Government announced it would devolve some powers over water in Wales to the Welsh Government in what was described as a ‘symbolic’ act. Yet today’s announcement will have real implications for my constituents, both those who work for the company and those who use its services.

“The privatisation of utility companies in past decades has brought about a situation in which major changes like this can happen – without the people affected having a say.”
Susan Elan Jones MP said: “These proposals will mean major changes to a key company in my constituency, which serves homes across North East Wales and beyond.
“It is vital that reassurances are given about people’s jobs and that local people’s concerns are listened to – and acted upon.”