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LUCAS ACQUIRES DOWTY FUEL SYSTEMS

 RESTON, Va., Sept. 7 /PRNewswire/ -- Lucas Industries announced in London yesterday that it has reached agreement on the acquisition of Dowty Fuel Systems from U.K.-based TI Group for $28.7 million(A) (18.9 million pounds).
 Dowty Fuel Systems is based in Cheltenham, England, and designs and manufactures engine controls and accessories including main engine and afterburner fuel controls, variable geometry controls, nozzle controls and actuation, bleed valve actuators and fuel distribution systems and atomizers. Dowty's dedicated alternator product line is not included in the deal.
 Sales by Dowty Fuel Systems, which will be merged with Lucas Engine Control Systems, totaled more than $30.4 million (20 million pounds) in 1992. The products of the merged businesses are complementary. The acquisition will strengthen Lucas' position as the leading manufacturer of aircraft fuel systems in Europe. The value of the assets being acquired is $18.1 million (11.9 million pounds).
 Commenting on the acquisition, Frank Turner, managing director- aerospace of Lucas Industries, said: "This is another step in the Lucas strategy of strengthening core activities. It will reinforce the position of our hydromechanical fuel controls business as a leading global player and, after integration, will enhance future profitability."
 Lucas' aerospace businesses are leading suppliers of aerospace systems and equipment with operating facilities across Europe, North America and Asia-Pacific, as well as associated companies, joint ventures, marketing and customer support facilities around the world. The businesses are part of Lucas Industries plc, a leading international supplier of advanced technology systems, components and services to the world's aerospace, automotive and other selected markets.
 (A) A Sept. 3, 1993, exchange rate of $1.52 to the pound was used to convert pounds to dollars.
 -0- 9/7/93
 /CONTACT: Renate Myles, 703-264-2387, or Paulina Wilson, 703-264-2353, both of Lucas Industries/


CO: Lucas Industries plc; Dowty Fuel Systems ST: Virginia IN: ARO SU: TNM

IH-DC -- DC016 -- 9298 09/07/93 11:16 EDT
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Publication:PR Newswire
Date:Sep 7, 1993
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