Smiths takeover puts Lucas ahead

LucasVarity’s acquisition of Smiths Industries’ engine controls business last week, makes it the world’s largest independent manufacturer of engine control equipment. The Lucas Aerospace division has a £500m turnover, within Lucas Varity’s overall turnover of £4.7bn. Smiths’ engine controls arm makes electronic controls for turbofans such as Rolls-Royce’s Pegasus and BMW-Rolls-Royce’s BR710, and Pratt & […]

LucasVarity’s acquisition of Smiths Industries’ engine controls business last week, makes it the world’s largest independent manufacturer of engine control equipment.

The Lucas Aerospace division has a £500m turnover, within Lucas Varity’s overall turnover of £4.7bn.

Smiths’ engine controls arm makes electronic controls for turbofans such as Rolls-Royce’s Pegasus and BMW-Rolls-Royce’s BR710, and Pratt & Whitney Canada’s PW305.

Understood to be worth less than £10m, the deal means Lucas takes over Smiths’ engine control plant in Basingstoke, which employs 150 people. Another 12 staff work at a repair and overhaul centre in Cheltenham, while 20 more work at a site in Florida.

It is the fourth acquisition since last September’s merger between Lucas Industries and Varity Corporation.

LucasVarity said it plans to more than double sales to £10bn by 2005 `through a mix of organic growth, acquisitions, joint ventures and strategic alliances’.