LucasVarity plc was a UK motor parts manufacturer, created by a merger of Lucas Industries plc and the North American Group Varity Corporation in August 1996. Lucas had employed 46,000 people compared with Varity's 9,000. Manufacturing is the transformation of raw materials into finished goods for sale, or intermediate processes involving the production or finishing of semi-manufactures. ... The phrase mergers and acquisitions or M&A refers to the aspect of corporate finance strategy and management dealing with the merging and acquiring of different companies as well as assets. ... Lucas Industries plc was a famous manufacturer of components for the motor industry and aerospace industry. ... Varity was an American farm equipment maker based in Buffalo, New York. ... A corporation is a legal entity (distinct from a natural person) that often has similar rights in law to those of a Civil law systems may refer to corporations as moral persons; they may also go by the name AS (anonymous society) or something similar, depending on language (see below). ... 1996 is a leap year starting on Monday of the Gregorian calendar, and was designated the International Year for the Eradication of Poverty. ...

At the time of the merger LucasVarity announced plans for a £65 million pound savings programme. The areas streamlined included the treasury, communications and marketing departments, as well as divisional managers. "The merger created a unique opportunity to reassess the skills and competencies we require in the senior management team," said LucasVarity chief executive Victor Rice.

In 1998 it attempted to shift its head office to the USA; however, the company suffered an embarrassing defeat in a shareholder vote on its decision to move across the Atlantic, with claims that its directors were looking to cash in on the much higher pay packets available in the US. Victor Rice suffered a barrage of criticism from shareholders. He sold the company to TRW, an American company specializing in satellites, defense, and automotive parts. When TRW was acquired by Northrop Grumman, Lucas, Varity and TRW's own automotive group were sold to the Blackstone Group as TRW Automotive. 1998(MCMXCVIII) is a common year starting on Thursday of the Gregorian calendar, and was designated the International Year of the Ocean. ... A shareholder or stockholder is an individual or company (including a corporation), that legally owns one or more shares of stock in a joint stock company. ... TRW Incorporated was an American corporation involved in a number of businesses, mostly defense-related, but including automotive supply and credit reporting. ... A satellite is any object that orbits another object (which is known as its primary). ... The Northrop Grumman Corporation (NYSE: NOC) is an aerospace and defense conglomerate that is the result of a 1994 merger between Northrop and Grumman. ... The Blackstone Group L.P. (not to be confused with investment management firm BlackRock, Inc. ... TRW Incorporated was an American corporation involved in a number of businesses, mostly defense-related, but including automotive supply and credit reporting. ...

See also

• Magna International
• TRW Automotive
• Varity
• Goodrich Incorporated