LucasVarity traces its history back to the 1850s when Joseph Lucas, a jobless father of six, sold paraffin oil from a barrow cart around the streets of Hockley.

[1] At first it made general pressed metal merchandise, including plant pot holders, scoops and buckets, and later in 1875 lamps for ships.

"The merger created a unique opportunity to reassess the skills and competencies we require in the senior management team", said LucasVarity Chief Executive Victor A.

The company suffered an embarrassing defeat in a shareholder vote, amid claims that its directors were looking to cash in on the much higher pay packets available in the United States.

Initially the Lucas name was used on Elta's existing product of automotive light bulbs but has been gradually expanded to cover much the same range as the original Lucas company- light units, batteries, switches and controls, ignition components, remanufactured starter motors and alternators, wiper blades and electrical accessories.