Lucas drawn to US tie

Article Abstract:

Lucas and Varity Corp are discussing a possible joint venture of merger. Lucas aims to stengthen the company's brakes business, and Varity holds a stake of some 25% in the US market for brakes. There are doubts as to the long-term benefits from such an alliance. Margins from ABS brake systems are falling as they become standard features. Lucas's US HV with Sumitomo for ABS brakes could also be affected by an alliance with Varity. Neither Varity nor Lucas appears likely to make a bid for the other company.

Motor vehicle parts and accessories, Auto Brakes, Motor Vehicle Brake System Manufacturing, Automobile equipment and supplies industry, Automotive parts industry, Joint ventures, Automotive brakes, Varity Corp., VAT, Lucas

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Demerger bandwagon attracts new converts

Article Abstract:

UK demergers include Thorn EMI, Hanson, and British Gas. Grand Metropolitan has decided against a demerger since it would not add value. The Thorn merger has more rationale due to lack of overlap between the businesses concerned, while GrandMet's businesses do overlap. Thorn has seen a rise in its share price since the demerger was announced. Valuations of the two units are difficult to estimate since there is disagreement as to the bid premium that EMI Music can achieve.

Entertainers & entertainment groups, Recorded Music Producers, Record Production, United Kingdom, Mergers, acquisitions and divestments, Acquisitions and mergers, Music industry, Music producers (Persons), Thorn EMI PLC

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New fear for business follows IRA blast

Article Abstract:

A disruption of the peace process could damage Northern Ireland's economy. Northern Ireland has seen an increase in tourism and retail sales following a ceasefire announced in 1994. Foreign companies are investing in Northern Ireland. They include Daewoo and Montupet. Sainsbury also plans investments and has not changed its plans after a bomb blast in Feb 1996. Northern Irish companies are most likely to be affected if the peace process fails.

Foreign investments, Economic aspects, Northern Ireland

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