Derivative Technology News

Rolls-Royce confirmed today that it has completed the deal to sell its Energy gas turbine and compressor business to Siemens for a £785 million cash consideration. The deal was originally announced on 6 May this year. Rolls-Royce has also received a further £200 million for a 25 year licensing agreement, as previously announced, granting Siemens access to relevant Rolls-Royce aero-derivative technology for use in the 4 to 85 megawatt power output gas turbine range. As announced on 19 June, Rolls-Royce will return the proceeds of the Energy sale to shareholders by way of a £1 billion share buyback. Further details will be announced as appropriate.

Rolls-Royce is proud to announce that BG Group has selected the Trent 60 DLE industrial gas turbine as the driver for the main refrigeration compressors in the proposed Lake Charles LNG Export project in Louisiana, USA. BG Group and Rolls-Royce have also agreed the terms of a Long Term Service Agreement covering the support and maintenance of the equipment for up to 25 years that will help deliver high levels of availability for this important LNG plant. Both the equipment and service contracts are expected to be activated in the first half of 2015, subject to the US LNG plant permitting process and final investment decisions by BG Group and Energy Transfer, the developers of the project.

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. "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.

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Northrop Grumman Corporation has signed a cooperative agreement with Kockums AB and its parent company, Howaldtswerke Deutsche Werft AG (HDW), under which Kockums will join a team assembled by Northrop Grumman's Ship Systems sector to compete for the U.S. Navy's Focused Mission Vessel Study. This study is expected to result in the development and construction of a Littoral Combat Ship (LCS), one element of the DD(X) family of surface combatants planned for construction by the Navy during the next quarter century. HDW covers business opportunities for the design, development, construction and sale of Visby-class ships and/or derivative technology to the U.S. government for the LCS and other U.S.