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’.