Rolls-Royce has agreed to sell its loss-making commercial marine business to Norwegian firm Kongsberg for an enterprise value of £500 million.
Plans by Rolls-Royce to cut 4,600 jobs over the next few years have sparked calls to protect posts at the engineering firm’s bases in northern Scotland.
Rolls-Royce Holdings Plc says it will take 12 years to build its prototype small nuclear reactor in the U.K.
Shares in Rolls-Royce rose sharply on Wednesday after the engine maker announced a wide-ranging restructuring that could include a sale of its commercial marine business.
Two former Rolls-Royce Holdings Plc executives pleaded guilty to U.S. charges that they orchestrated international bribes over more than a decade, continuing an Obama-era effort to hold individuals responsible for corporate misconduct.
Rolls Royce today reported a healthy profit for the first half of the year.
Energy service firm Amec Foster Wheeler (AFW) will lead a UK Government funded nuclear power research programme after winning a £2.9million contract.
Around 800 jobs are being axed worldwide at Rolls-Royce as the group announced plans to slash costs in its embattled marine business.
Rolls Royce has said 150 jobs will go from its operations in Norway.
Engine maker Rolls-Royce said it will cut an extra 400 jobs from its marine division due to the continued slump in the price of oil.
German engineering giant Siemens has developed a new turbine for the oil and gas industry based on the Rolls Royce jet engines that have powered thousands of the world's airliners.
Power systems company Rolls-Royce has been awarded a £24million subsea contract for work in Norway. It will supply a module handling system to the subsea construction vessel Aker Wayfarer, which was built in 2010.