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Rolls-Royce Holdings PLC — M&A Activity 2014
Jul 4, 2014
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M&A Activity
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RNS Number : 4282L
Rolls-Royce Holdings plc
04 July 2014
Rolls-Royce and Hispano-Suiza (Safran) announce a memorandum of understanding to develop accessory drive train transmission systems
London/Paris, July 4th, 2014
Rolls-Royce and Hispano-Suiza (Safran) have signed a Memorandum of Understanding (MoU) to establish an exclusive long term joint venture (JV) for the development of world-leading accessory drive train transmission systems.
The new business will be a 50:50 JV which addresses the entire product lifecycle of Rolls-Royce civil aero engine applications. The JV will have activities in France, UK and Germany, as well as a competitive production facility. The headquarters will be in France. The JV will call on the complementary resources and expertise of its two parent companies.
The MoU was signed by Norbert Arndt, EVP - Structures and Transmissions of Rolls-Royce and Hélène Moreau-Leroy, Chairman and CEO of Hispano-Suiza. Over the next few months, Rolls-Royce and Hispano-Suiza will work together to conclude a finalised agreement.
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Rolls-Royce's vision is to create better power for a changing world via two main business segments, Aerospace and Marine & Industrial Power Systems (MIPS). These businesses address their markets with two strong technology platforms, gas turbines and reciprocating engines, for use on land, at sea and in the air. Aerospace comprises Civil Aerospace and Defence Aerospace. MIPS comprises Marine, Energy, Nuclear and Power Systems. Power Systems includes Rolls-Royce's 50% ownership of Rolls-Royce Power Systems (RRPS), a collaboration with Daimler AG. For further information: www.rolls-royce.com
Rolls-Royce has a broad customer base comprising more than 380 airlines and leasing customers, 160 armed forces, 4,000 marine customers, including 70 navies, and 1,600 energy and nuclear customers in 120 countries. Annual underlying revenue was £15.5 billion in 2013, around half of which came from the provision of aftermarket services. The firm and announced order book stood at £71.6 billion at 31 December 2013. Rolls-Royce employs over 55,000 people in 45 countries.
Hispano-Suiza (Safran) specialises in aircraft power transmission and management systems. A leading partner to engine-manufacturers and fixed and rotary-wing civil and military aircraft manufacturers, Hispano-Suiza designs, produces and supports power transmissions that provide the mechanical energy needed to drive engine or aircraft systems.
Hispano-Suiza is the world leader in this market, providing power transmissions for nearly 60% of all mainline commercial jets (over 100 seats), with an installed base exceeding 20,000 CFM56 engines and 4,000 Trent and BR700 family engines produced by Rolls-Royce. Hispano-Suiza is also developing innovative power transmission systems for tomorrow's engines, including the Rolls-Royce Trent XWB and the CFM International LEAP. For further information: www.hispano-suiza-sa.com
For further information, please contact:
Investors:
Simon Goodson
Director, Investor Relations
Rolls-Royce plc
Tel: +44 (0)20 7227 9237
Email: [email protected]
Media:
Richard Wray
Director of External Communications
Rolls-Royce plc
Tel: +44 (0)20 7227 9163
Mobile +44 (0)7974 918 416
Email: [email protected]
This information is provided by RNS
The company news service from the London Stock Exchange
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