NOVEMBER 3, 1997

Vickers to keep Cosworth?

VICKERS, the company which owns Cosworth, has announced that it is selling off the luxury Rolls-Royce automotive company, which it has owned since 1979. The company says it now intends to concentrate on its core activities in the production of tanks, howitzers, propulsion systems and Cosworth high-performance engines. There have long been rumors that Vickers would sell Cosworth.

Rolls-Royce is expected to raise around $500m with the most likely buyer being BMW. Both Ford and Daimler-Benz have both said they are not interested in the company.