Rolls Royce Sells Energy Gas Turbine Business To Siemens

Posted by Joseph R. Fonseca
Tuesday, May 06, 2014
Rolls Royce

 

Britain's Rolls-Royce Plc said it would sell its energy gas turbine and compressor business to German conglomerate Siemens AG for 785 million pounds($1.33 billion).

Rolls, whose energy gas turbine and compressor business has around 2,400 employees, said Siemens would pay a further 200 million pounds for a 25 year licensing agreement granting access to relevant Rolls-Royce aero-derivative technology.

The energy gas turbine and compressor business supplies aero-derivative gas turbines, compressor systems and related services to customers in the oil and gas, and power generation sectors

"This agreement will give the Energy business greater opportunities as part of a much larger energy company and allows Rolls-Royce to concentrate on the areas of business where we can add most value," Rolls-Royce Chief Executive, John Rishton said in a statement.

The London-based company said the transaction, would transfer Rolls-Royce's shareholding in the Rolls Wood Group (RWG) joint venture, that provides maintenance, repair and overhaul services to Siemens.

(Reporting by Tasim Zahid in Bangalore; Editing by David Gregorio and Andre Grenon)

($1 = 0.5885 British Pounds)

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Elandra Yachts Expands, Launches Finishing Department

Elandra Yachts has added another layer of craftsmanship to its boat-building operation with the launch of a new in-house paint department at the Gold Coast plant,

Baltic Dry Bulk Index Dips on Weak Demand

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, continued to dip on Wednesday due to sluggish demand across vessel segments.

OMB - Subchapter M Cleared for Publication

The Office of Management and Budget (OMB) completed its review of the draft final rule entitled Inspection of Towing Vessels, also known as "Subchapter M." The

News

Crowley to Christen 3rd LNG-ready Product Tanker

Crowley Maritime Corp. announced it will hold a christening ceremony Thursday, May 5 in New Orleans for the newly built Louisiana, the company’s third of four new Jones Act product tankers.

Venezuelan Crude Sales to US Fell 8% in April

Venezuelan crude sales to the United States declined 8.3 percent in April to 734,700 barrels per day (bpd) compared with the same month of 2015, amid delays at PDVSA's main ports,

Bureau Veritas Acquires TMC Marine

Bureau Veritas has acquired international consultancy TMC Marine Ltd.    TMC has provided pre- and post-casualty advice and support to the marine industry since 1979.

 
 
Maritime Security Naval Architecture Navigation Offshore Oil Pipelines Ship Electronics Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1086 sec (9 req/sec)