LucasVarity Common Rail Diesel Commitments Exceed $1 Billion
23 February 1998
LucasVarity Common Rail Diesel Commitments Exceed $1 BillionLONDON, Feb. 23 -- LucasVarity plc (London: LVA, NYSE: LVA) announced today that its Diesel Systems division is to supply its common rail fuel injection system to Kia Motor Corp. of Korea, in a contract worth 125 million pounds sterling ($200 million). This follows the announcement in December last year of customer commitments from Ford Motor Company and Renault S.A. worth 500 million pounds ($850 million). Dominique Chauvin, managing director of Lucas Diesel Systems, said: "The majority of vehicle manufacturers are now choosing common rail fuel injection systems for their future car diesel engines, and we are delighted to be able to announce our third contract for this technology. Our system is world class and we expect further customer selections in the following months." Lucas Diesel Systems is one of the world's leading manufacturers of diesel fuel injection systems, serving the car, van, truck, bus, agricultural, industrial and marine sectors. SOURCE LucasVarity plc