The announcement marks the biggest disposal under the tenure of Warren East, who has been Rolls-Royce chief executive since July 2015. Photo: ReutersLondon: British engine maker Rolls-Royce said on Monday it has sold German division LOrange for €700 million ($860 million) to US group Woodward. The announcement marks the biggest disposal under the tenure of Warren East, who has been Rolls-Royce chief executive since July 2015. LOrange will be renamed Woodward LOrange and will continue to supply Rolls-Royce Power Systems under a long-term supply deal with an initial term of 15 years. London-listed Rolls-Royce, whose engines are used in Airbus and Boeing aircraft, also makes power systems for use on land and at sea.

Source: Mint April 09, 2018 09:45 UTC