The deal will focus on Sovereign marketing TRW's Lucas branded electrical aftermarket products alongside its own portfolio. TRW will retain its OE electrical business.
Once the agreement is signed, TRW Automotive Aftermarket UK operations director Richard Halstead is expected to be appointed to a top position in the joint venture, passing his current TRW responsibilities to senior manager Tim Ward.
“The venture will create a powerful force in the aftermarket, combining a leading automotive electrical brand with an established independent brand,” says Sovereign managing director Richard Welland. “It's an extremely exciting development.”
In addition to Sovereign's manufacturing facility in Bognor and seven distribution sites, the partnership will have a Midlands office.