ONE of Hyndburn's biggest employers Lucas Rists was today sold to a German firm in a multi-million pound takeover - and the new owners said it was too early to say if jobs would be affected.

The deal struck by American firm TRW to sell to Leoni AG ended months of speculation over the future of the Accrington site and its 600-strong workforce.

Workers at the factory, which manufactures vehicle wiring systems, were today being briefed on the sale by senior managers.

The new German owners said that it was too early to say if there would be any implication for jobs from the takeover.

Last March car parts giant LucasVarity announced it had put its wiring systems division up for sale just three months after employees there had to take a pay cut and face a two-week lay-off to cut costs.

LucasVarity was then sold to American firm TRW which took on the task of selling the wiring division.

"I am sure that by combining resources and expertise we will be better positioned to grow the business over the long term and that it will achieve great success," said Uwe Lamann, president of Leoni's wiring systems division.

Leoni AG was founded in 1917 has 17 factories in 13 countries manufacturing wiring systems for customers including Audi, General Motors, Porshe and Volkswagen. It employs 12,000 people worldwide.

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