TRW to reduce debt with sales
Tuesday 18 May 1999
TRW IS planning to use $1.2-$1.5bn from the sale of four businesses, including LucasVarity Wiring and Lucas Diesel Systems, to reduce debt, the US autocomponents giant said yesterday.
The $6.5bn purchase of LucasVarity, completed last week, boosted TRW's debt to more 80 per cent of total capital. Lazard Freres is advising on the sale of Lucas Diesel Systems, which has 9,200 employees across Europe, with plants in Kent, Gloucestershire and East Anglia. The sale of Lucas Wiring, which has 5,500 workers in Sunderland and Newcastle under Lyme, was announced in March.
No job losses are anticipated as a result of the sales, TRW added yesterday.
elephant appealPrince William signs up for our charity appeal
elephant appealSo says man jailed for cutting off dead elephant's tusks
booksWe examine the best titles for teens
scienceResearchers teach border collie to understand sentences using more than 1,000 words
booksA Christmas story in six parts
travelWill high-value tourism help the workshops of this Renaissance city?
Geoffrey Macnab does not like the comedian's big screen debut
- 1 Tim Sherwood challenges Daniel Levy to set out vision for Tottenham Hotspur’s future
- 2 French pub fined €9,000 after customers returned empties to bar - because it's 'undeclared labour'
- 3 Sun will 'flip upside down' within weeks, says Nasa
- 4 #Teamnigella: It’s the only side to be on
- 5 Christmas comes early: Justin Bieber is 'retiring from music'
- < Previous
- Next >
iJobs Money & Business
£59999 - £80001 per annum + Benefits: Pro-Recruitment Group: A Top 10 firm in ...
£50000 - £75000 per annum + benefits + bonus: Harrington Starr: Project Manage...
£60000 - £90000 per annum + benefits + bonus: Harrington Starr: Business Analy...
£Negotiable: Citifocus: High calibre individual with institutional client serv...