Rolls-Royce agrees transfer of engine programme
23 April 2013
Rolls-Royce and Safran agree transfer of RTM322 helicopter engine programme to Turbomeca
Rolls-Royce today announces that it has reached agreement to sell its shareholding and interest in the RTM322 helicopter engine programme to Turbomeca (a Safran company). Rolls-Royce's 50 per cent interest in the engine programme will be progressively transferred to Turbomeca, which will then hold 100 per cent of the RTM322 programme.
Rolls-Royce will receive a cash consideration of €293 million for its shareholding and interest in the programme.
Turbomeca will assume full responsibility for the design, production and support of the RTM322 engine, which powers the Apache, EH101 Merlin and NH90 helicopters. Rolls-Royce will provide full assistance to Turbomeca during the multi-year transition period to ensure all RTM322 customers continue to receive effective support.
The RRTM Adour engine programme, which powers the Hawk and Jaguar aircraft, is unaffected by this agreement, as are the other helicopter engine programmes in the Rolls-Royce portfolio.
The sale is expected to complete before year end, subject to closing conditions.
Work is expected to be transferred to Turbomeca over three years and we will work closely with employee representatives to manage any employment impact.
Notes to Editors:
1. Rolls-Royce is a world-leading provider of power systems and services for use on land, at sea and in the air, and has established a strong position in global markets - civil aerospace, defence aerospace, marine and energy.
2. As a result of this strategy, Rolls-Royce has a broad customer base comprising more than 300 airlines, 4,000 corporate and utility aircraft and helicopter operators, 160 armed forces, more than 4,000 marine customers, including 70 navies, and energy customers in more than 80 countries.
3. Annual underlying revenue was £12.2 billion in 2012, of which more than half came from the provision of services. The firm and announced order book stood at £60.1 billion at 31 December 2012, providing visibility of future levels of activity.
4. Rolls-Royce employs over 45,000 people in offices, manufacturing and service facilities in over 50 countries. Over 14,000 of these employees are engineers.
5. In 2012, Rolls-Royce invested £919 million on research and development, two thirds of which had the objective of further improving the environmental performance of its products, in particular reducing emissions.
6. Rolls-Royce supports a global network of 28 University Technology Centres, which connect the company's engineers with the forefront of scientific research.
7. The Group has a strong commitment to apprentice and graduate recruitment and to further developing employee skills.
For further information, please contact:
Investors:
Simon Goodson
Director - Investor Relations
Rolls-Royce plc
Tel: +44 (0)20 7227 9237
simon.goodson@rolls-royce.com
Media:
Jane Terry
Director of External Communications
Rolls-Royce plc
Tel: +44 (0)20 7227 9163
Jane.Terry@Rolls-Royce.com
www.rolls-royce.com
This information is provided by RNS
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