New Partners Join Rolls-Royce Engine Programmes
Rolls-Royce PLC
14 January 2000
NEW PARTNERS JOIN ROLLS-ROYCE ENGINE PROGRAMMES
Rolls-Royce plc, the aerospace, marine and energy group, confirmed today
further risk and revenue sharing partnerships in its aero-engine programmes.
Industria de Turbo Propulsores (ITP), the Spanish engine company which is 47
per cent owned by Rolls-Royce, and Denel (Airmotive) of South Africa, have
each increased their participation in the Trent 500 programme.
In addition, a group of financial institutions and Techjet, an Israeli joint
venture 50 per cent owned by Rolls-Royce, have become new risk and revenue
sharing partners in Rolls-Royce aero-engine programmes.
John Cheffins, Managing Director - Airlines, for Rolls-Royce said:
'We are delighted that our engine programmes have continued to attract risk
and revenue sharing partners of such high calibre. Their participation in our
programmes is an endorsement of our market success and the future embedded
value we have created for our partners and shareholders.'
Notes to editors
Rolls-Royce plc is a global company meeting present and future requirements of
civil aerospace, defence, marine and energy markets, with facilities in 20
countries. Its core gas turbine technology has created one of the broadest
product ranges of aero engines in the world, with 55,000 engines in service
with 300 airlines, 2,400 corporate and utility operators and more than 100
armed forces, powering both fixed and rotary wing aircraft. In addition, more
than 30 navies use Rolls-Royce propulsion. Energy markets include the oil and
gas industry and power generation.
Risk and revenue sharing partnerships (RRSPs) are a standard form of
co-operation in the aerospace industry. Rolls-Royce has been able to attract
new partners as a result of the success of the company's new engine
programmes, though its overall level of RRSPs remains below that of its
competitors.
RRSPs bring benefits to each party. For the engine maker they bring
additional financial and engineering resource, share risk and contribute to
the initial programme investment. In return the partner receives a share of
the long term revenues generated by the engine programme and often secures a
position in the manufacture or development of the engine.
For more information please contact:
Peter Barnes-Wallis
Director of Corporate Communications
Tel: +44 171 227 9141 Fax: +44 227 9178
E-mail: peter.barnes-wallis@rolls-royce.com
Rolls-Royce website: www.rolls-royce.com
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