Rolls-Royce and Hispano-Suiza (Safran) have signed a Memorandum of Understanding (MoU) to establish an exclusive long term joint venture (JV) for the development of world-leading accessory drive train transmission systems.
The new business will be a 50:50 JV which addresses the entire product lifecycle of Rolls-Royce civil aero engine applications. The JV will have activities in France, UK and Germany, as well as a competitive production facility. The headquarters will be in France. The JV will call on the complementary resources and expertise of its two parent companies.
The MoU was signed by Norbert Arndt, EVP - Structures and Transmissions of Rolls-Royce and Hélène Moreau-Leroy, Chairman and CEO of Hispano-Suiza. Over the next few months, Rolls-Royce and Hispano-Suiza will work together to conclude a finalised agreement.
Source: Rolls-Royce Plc (LSE: RR.L)
Date: Jul 7, 2014