LucasVarity

Infobox Defunct Company
company_name = LucasVarity plc
company_
fate = Acquired
successor = TRW Inc
foundation = 1996
defunct = 1999
location = United Kingdom
industry = Automotive and Aerospace
key_people = Victor A. Rice
products = Braking, Diesel Systems, Diesel Engines Electrical, Aftermarket and Aerospace Systems
num_employees = 55,000
subsid = Lucas CAV/Simms/RotoDiesel/Condiesel,
Girling,
Lucas Automotive,
Lucas Aerospace,
VarityPerkins

The former LucasVarity plc was a UK automotive parts manufacturer, created by a merger of the British Lucas Industries plc, and the North American Varity Corporation in August 1996.

Foundation

At the time of the merger, LucasVarity announced plans for a £65 million pound savings programme. The areas streamlined included the treasury, communications and marketing departments, as well as divisional managers. "The merger created a unique opportunity to reassess the skills and competencies we require in the senior management team", said LucasVarity Chief Executive Victor A. Rice.

Lucas had employed 46,000 people compared with Varity's 9,000

Attempted relocation to the USA

In 1998 the management attempted to shift the company's head office and primary listing to the USA. The company suffered an embarrassing defeat in a shareholder vote, amid claims that its directors were looking to cash in on the much higher pay packets available in the USA. Victor Rice suffered a barrage of criticism from shareholders and the British media.

ale to TRW

Following this defeat, an offer was made by TRW, an American company specializing in satellites, defence and automotive parts, to purchase the company in an all cash offer, which was accepted in March 1999.

ubsequent History

TRW quickly sold Lucas Diesel Systems to Delphi in January 2000. Delphi Inc, is a USA based automotive parts and systems manufacturer with a large presence in Europe.The diesel fuel injection equipment research, engineering and manufacturing business of Lucas, known in later years as Lucas Diesel Systems Ltd (and previously CAV Ltd) continues at all of its original world wide sites (with the exception of those in Japan and South Carolina, USA which had closed by this time). The business name has been changed to Delphi and the business is a major part of its Powertrain Division.

Lucas Aerospace (by then called TRW Aeronautical Systems) was sold to Goodrich Corp.

TRW itself was later acquired by Northrop Grumman, who sold on the automotive assets of Lucas, Varity and TRW's own automotive group to the Blackstone Group as TRW Automotive.

ubsequent companies

At formation LucasVarity was managed in seven divisions. The current ownership of these devision is detailed below.

{| class="wikitable" style="margin: 1em auto 1em auto"
-! style="background:#efefef; width:300px"| Division! style="background:#efefef; width:150px" | Current Owner! style="background:#efefef; width:100px" | Year Sold
-
Lucas Aerospace
Goodrich Corp
2002
-
Light Vehicle Braking System
TRW Automotive
2002
-
Heavy Vehicle Braking System
ArvinMeritor
1999
-
Lucas Diesel Systems
Delphi
2000
-
VarityPerkins (Diesel Engines)
Perkins Engines Company Limited
1998
-
Electronic & Electrical Systems
TRW Automotive & others
2002 & Various
-
Lucas Aftermarket Operations
TRW, Delphi, Elta Lighting & ArvinMeritor
1996 to 2006
-