Tad° makers to merge
22nd October 1998, Page 7
22nd October 1998
Page 7
Page 7, 22nd October 1998
— Tad° makers to merge
Close
Noticed an error?
If you've noticed an error in this article please click here to report it so we can fix it.
If you've noticed an error in this article please click here to report it so we can fix it.
• Lucas Varity is to sell its tachograph division to German manufacturer VDO over the next four years.
LucasVarity owns 60 of Lucas Kienzle, which makes fleet management systems, tachographs and speed limiters—Mannesmann VDO holds the remaining 40% of the basiness. Lial,T the deal, VDO Trading (UK), will be merged with Lucas Kienzle and called VDO Kinzie UK.
In LucasVarity will retain 49% of the new enlarged business, but VI)0 will progressively increase its shareholding from 51°..c, to 100%.
VDO Kienzle UK will be based at the former Lucas Kienzle site at Gravelly Industrial Park, Birmingham, with projected annual sales of around £20m.
A Lucas Kienzle spokesperson says that the takeover will not lead to any job losses.