TRW to sell four businesses

Automotive industry consolidation took a step forward this week as US-based TRW decided to sell, as part of a £900m package, some of the former LucasVarity subsidiaries it bought earlier this year. Possible buyers include Federal Mogul, which could be interested in Lucas Diesel Systems. German parts makers Robert Bosch and Siemens may also want […]

Automotive industry consolidation took a step forward this week as US-based TRW decided to sell, as part of a £900m package, some of the former LucasVarity subsidiaries it bought earlier this year.

Possible buyers include Federal Mogul, which could be interested in Lucas Diesel Systems. German parts makers Robert Bosch and Siemens may also want to buy Lucas Diesel Systems, which has 9,000 workers at sites including Kent, Gloucestershire and East Anglia. US-based Lear may acquire Lucas Wiring, which employs 5,500 in Sunderland and Newcastle-under-Lyme.