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LucasVarity LucasVarity is to shed more than 400 jobs at two automotive parts factories in Birmingham, in order to reduce losses at the sites. 20-Jan-2000 LucasVarity's US parent company TRW is planning to raise $1.5bn from the sale of car parts businesses that employ 8,000 people in the UK, including Lucas Diesel Systems, Lucas Wiring and TRW Engine Components. 18-May-1999 LucasVarity is to shed 50 jobs by closing its Fen End car components design centre in Warwickshire, and about 130 staff will be transferred to expanded facilities at the Shirley Technical Centre. 07-May-1999 LucasVarity is planning to sell its electric wiring systems business for about £120m, as part of a strategy to focus on braking and diesel engine management. 30-Mar-1999 LucasVarity is to cut 90 jobs at the Stonehouse Industrial Park in Gloucestershire, following the loss of a contract from Caterpillar for the supply of diesel fuel injection equipment. 19-Mar-1999 LucasVarity, the car components maker, is set to be acquired by TRW of the US for £4bn, as Federal-Mogul has now withdrawn its interest. 11-Feb-1999 LucasVarity has agreed a £4bn takeover by TRW, but Federal-Mogul is also interested in acquiring the Anglo-American car components group. 30-Jan-1999 LucasVarity is to shed more than 700 jobs at its car wiring harnesses plant in Ystradgynlais near Swansea, and the plant will be transformed into a customer support centre employing 100 staff. 30-Jan-1999 LucasVarity is in discussions with a number of companies that could lead to the expansion of its automotive components business through a series of acquisitions and joint ventures. 07-Jan-1999 LucasVarity has announced a review of its operations in order to work out the best way to build a global business, prompting speculation that it may result in the sale of one its core divisions. 09-Dec-1998 LucasVarity has sold its heavy vehicle braking systems division to Meritor Automotive of the US for £235m, and the proceeds will be used on further acquisitions. 24-Nov-1998 LucasVarity has been defeated by shareholders in its attempt to move its stock market listing from London to New York, but says it will continue with plans to make a large acquisition within the next six months. 09-Nov-1998 LucasVarity has won a 12m-a-year contract to supply the brake systems for the new light commercial van being built at the General Motors factory in Luton. 13-Oct-1998 LucasVarity has formed a joint venture with Thomson-CSF of France to develop radar sensors for vehicle cruise control. 01-Oct-1998 LucasVarity, the auto components company, is to move its stock market listing from London to New York, as it believes that US investors will allow it to make larger acquisitions. 10-Sep-1998 LucasVarity has confirmed that it is considering a move to acquire Mando, the South Korean car components company. 07-Sep-1998 LucasVarity is looking to sell its truck brakes business for about £100m, and has created a new division called LucasVarity Automotive in order to bring together its remaining vehicle operations. 06-Aug-1998 LucasVarity is looking to make a large acquisition over the next year, and is currently in talks to acquire Mando, the South Korean supplier of brakes. 05-Jun-1998 LucasVarity has won a $50m a year contract to supply brake systems for Chrysler's sports utility vehicles in the US. 22-Apr-1998 LucasVarity is considering a bid for Mando, the South Korean brakes maker, but it is likely to face competition from other western car parts groups. 08-Apr-1998 LucasVarity is looking to spend up to £1bn on acquisitions and is particularly interested in businesses that will enable it to supply integrated brakes and suspension systems. 01-Apr-1998 Finelist is acquiring Lucas Service UK, the distributor of vehicle parts, from LucasVarity for £33m, which will improve its position in the market for diesel engine and fuel injection parts. 17-Mar-1998 LucasVarity is setting up a joint venture with TRW of the US to develop automotive electric steering systems, and production will start at the Holford Drive factory in the West Midlands in 2000. 05-Mar-1998 LucasVarity has sold two starter motor and alternator businesses, with plants in London, Argentina and South Africa, to Prestolite Electric of Michigan for an initial £25m. 24-Jan-1998 LucasVarity has won a £2bn contract to supply control systems for the new Rolls-Royce Trent aircraft engines. 14-Jan-1998 LucasVarity has reached agreement to buy the remaining 66% of Freios Varga, the Brazilian brakes manufacturer, for £70m. 09-Jan-1998 Caterpillar of the US is to acquire the Perkins diesel engine business from LucasVarity for £800m, which will enable LucasVarity to make acquisitions in the aerospace and automotive sectors. 12-Dec-1997 LucasVarity is discussing the acquisition of the remaining 66% of Freios Varga, the Brazilian automotive brakes company, for up to £110m, in order to benefit from the anticipated 10% annual growth in the Brazilian car market. 24-Oct-1997 DT Industries of the US is acquiring Lucas Assembly and Test System from LucasVarity for £30m, as part of LucasVarity's programme to dispose of 13 non-core businesses. 30-Jul-1997 Lucas Aerospace, the LucasVarity division, has bought Smiths Industries' engine controls business for undisclosed terms. 21-Jul-1997 Senior Engineering has acquired Nitrotec Services, the provider of heat treatment processes for metal components, from LucasVarity for about £3m. 11-Jun-1997 LucasVarity's Perkins subsidiary is setting up a joint venture with Tianjin Engine Works to make diesel engines for trucks, buses and generating equipment in China. 15-May-1997 LucasVarity has sold its 50% stake in Lucas Yuasa, the Birmingham-based automotive battery business, to Yuasa of Japan. 06-Feb-1997 LucasVarity is looking to sell two French businesses - Sasic, the light braking concern, and Lucas Aerospace Fuel and Mechanical Systems, which makes low-pressure fuel equipment. 28-Jan-1997 LucasVarity expects to shortly announce the sale of its US geared systems division, with Rolls-Royce thought to be one of the interested companies. 24-Jan-1997 LucasVarity has acquired Autospeciality, the US maker of replacement components, for undisclosed terms. 06-Jan-1997 LucasVarity, the recently-merged Anglo-US engineering concern, is planning a £250m restructuring programme, which will include the disposal of 13 non-core businesses and the cutting of about 3,000 jobs. 04-Dec-1996 LucasVarity, the new company formed by the recent merger of Lucas and Varity, is looking to combine its braking operations by focusing its European output of anti-lock brakes at Varity's Dutch plant. 09-Oct-1996 LucasVarity, the motor components maker, is planning a £115m cost-cutting exercise, including the loss of 50 senior managers. 04-Sep-1996 More from the Motor sector Related pages: Northgate British Car Auctions Rover Lex Service Jaguar The information on this page comes from the UK Activity Report. 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