Shares in GEC Marconi discovered as University shamed into silence EXCLUSIVE UEA HAS COME under heavy fire from leading ethical investment group the Campaign Against the Arms Trade (CAAT) after it was revealed that the University is profiting from the sale of arms to some of the world's most repressive regimes. The Uni versity holds nearl y ÂŁ400,000 worth of shares in GEC M arconi , the UK 's second largest mi litary manufacturer and a company renowned for selling anns to Indonesia, a country who Amnesty Intern ational identify as "one of the world 's worst human rights offenders." The Campaign Against Arms answer Concrete's questions about in GEC Marconi, who are currently their holdings in GEC Marconi , have Trade are now calling for UEA to in merger talks with British disinvest, branding it's investments defended their general investment Aerospace. "shocking" and "appalling". policy. Investment Attacks "The University has to use its money to achieve a good return. "UEA doesn't need to sell the "GEC Marconi provided the shares, it's an investment for the We are not saying that ethics is not in electronic systems used an issue, but it is balanced by other University , it would be bad Indonesian warplanes which eyethings such as returns and business to sell them if we were to witnesses report as being used for security," said UEA spokesperson make a loss," explained Thomas. attacks on villagers in the island of Katy Jones. However, Alice Taylor-Gee East Timor," stormed CAAT (CHE 4) has criticised the Unethical spokesperson Hillary Gueddalla. University for their involvement in "it's shocking , outrageous," she However, Clare White, Union GEC Marconi . said , adding, "This is just some of Welfare Officer, believes the "it's just not a good idea to be the lethal equipment GEC Marconi University should be doing more. putting money into arms, even if sells to Indonesia and which UEA is ''This is totally ethically unsound," UEA is making a profit. There are making money from ." other ways to make money - the she said , ''There are so many other ethical investment options." University should be more Understanding "it is highly irresponsible for UEA involved in ethical investments. "You can 't reconcile institutions to invest in such a company if it isn't Repression such as universities , which are putting pressure on them to clean supposed to promote learning and And . Neil Cotton (MGT 1) up their act." understanding , with holding Student opinion over the stake Univers ity is added , "The investments like th is," said Ms has been divided. effecti vely taking part in the Gueddalla. Thomas Christensen (MGT 1) repression in other countries , we However, UEA, who refused to has endorsed UEA's shareholding shouldn't be keeping th e shares."
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