4th Jul 2014 06:41
LONDON (Alliance News) - Rolls-Royce Holdings PLC said Friday that it has signed a Memorandum of Understanding to establish an exclusive long-term joint venture for the development of accessory drive train transmission systems.
The new 50:50 joint venture will cover the entire product lifecycle of Rolls-Royce civil aero engine applications, said the company, and will operate in France - where it will be head-quartered - as well as the UK and Germany, and will have a competitive production facility.
"The JV will call on the complementary resources and expertise of its two parent companies," said Rolls-Royce, which noted that the companies will work together to conclude a finalised agreement over the coming months.
The MoU was signed by Norbert Arndt, EVP - Structures and Transmissions of Rolls-Royce and Hélène Moreau-Leroy, Chairman and CEO of Hispano-Suiza.
By Alice Attwood; [email protected]; @AliceAtAlliance
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