Lucas reassures

Click to follow
The Independent Online
Lucas reassures

LUCASVARITY yesterday reassured its 50,000 retired employees that their pensions would not be put at risk by the company's sale to a US rival.

Lucas wrote to all its pensioners to tell them that union fears of a raid by a US buyer on its pension fund surplus - valued at up to pounds 1.2bn - were unfounded. Lucas has agreed to a pounds 4bn takeover by the US engineering group TRW.

Comments