Gooding shows an interest in Rock

Nov 16 2007 by Graeme King, The Journal

A SELF-MADE entrepreneur from South Wales is believed to be assembling a bid for Northern Rock – but it is not known whether his team has managed to finalise a proposal.

Alfred Gooding, 75, has enjoyed a long and varied business career over more than 40 years. But last night he was thought to be on the verge of announcing his biggest project – a multi-billion offer to run Northern Rock, backed by US financiers.

Mr Gooding was thought to favour keeping the bank as an independent business, keeping its name, structure and relationship with the charitable Northern Rock Foundation.

The Welshman’s business career has been a classic rags to riches tale over the last four decades, building a fortune from nothing, as the son of a miner.

He was born in Risca near Newport in March 1932 and has since become one of the biggest names in the Welsh business community. Having started out in the building sector in 1959, he moved into manufacturing in the 1960s and his companies have included steel lintel manufacturer Catnic Components, now owned by Corus, and electronics manufacturer Sanken Power Systems in Mountain Ash.

Mr Gooding declined to comment last night.