rolls-royce holdings-sp adr (RYCEY) Key Developments
Rolls Royce Holdings plc Signs Long-Term Contract for M250 Turboprop Engines with Jiangsu A-Star of China
Nov 11 14
Rolls-Royce and Jiangsu A-Star signed a new, long-term agreement for M250 turboprop engines as the Chinese company prepares its production line for the manufacture of Extra EA 500 aircraft. The agreement includes orders for Rolls-Royce M250-B17F engines, with hundreds of engines expected to be delivered over coming years, primarily in aircraft for the fast-growing Chinese general aviation market. Jiangsu A-Star recently purchased the Type Certificate for the Extra EA-500 aircraft and has developed production facilities in Zhenjiang, Jiangsu Province, near Shanghai. Engines for the aircraft will be assembled at Rolls-Royce facilities in Indianapolis, US, and shipped to Zhenjiang for installation in the aircraft, with deliveries beginning in 2015. The agreement is valued in excess of $50 million. Rolls-Royce and Jiangsu A-Star are also in discussions on maintenance, repair and overhaul, and other new service capabilities to support the Chinese market, as well as training opportunities.
Rolls-Royce Launches New MTU Onsite Energy 18V 2000 Generator Set, Increasing Power Range for Series 2000 Product Lineup
Nov 6 14
Rolls-Royce announced the availability of the all-new MTU Onsite Energy 18V 2000 generator set with a power output of 1,250 kWe, increasing the power range of its family of Series 2000 products. The generator set is based on the newly developed MTU Series 2000 diesel engine in an 18V configuration, which is designed exclusively by MTU for power generation applications. MTU Onsite Energy now offers a 1,250 kWe generator set powered by the newly-developed MTU 18V 2000 diesel engine. The MTU 18V 2000 generator set will allow MTU Onsite Energy customers with requirements at the 1,250 kWe node to purchase an equally powerful generator set with a more efficient footprint than was previously available. The result of years of development, the highly engineered diesel generator set utilizes a high-pressure common rail fuel injection system and optimized air filter and outlet placements. Additionally, the generator set's engine control unit (ECU), now an ECU9, boasts increased RAM and processor capacity that delivers four times the speed of earlier ECUs.
Rolls Royce Holdings plc Announces Management Changes
Nov 4 14
Rolls-Royce announced that David Smith has been appointed as Chief Financial Officer and a Director of Rolls-Royce Holdings plc. He takes up his new role with immediate effect, replacing Mark Morris who has decided to leave the company after 27 years, serving most recently as Chief Financial Officer since January 2012. David Smith joined Rolls-Royce earlier this year, and is currently Chief Financial Officer of the Aerospace Division. David spent the first 25 years of his career at Ford where he held a number of senior positions including Chief Financial Officer and subsequently Chief Executive Officer at Jaguar Land Rover, before he moved to the technology company, Edwards Group as Chief Financial Officer. David Smith is a non-executive director of Motability Operations Group plc.
Rolls-Royce Accelerates Cost Reduction and Announces Restructuring
Nov 4 14
Rolls-Royce announced additional headcount reductions as part of an intensified programme to improve operational efficiency and reduce cost across the Group. The company now proposes a restructuring plan that will reduce headcount by 2,600 over the next 18 months, principally in Aerospace division. The majority of this reduction will be achieved in 2015.
Rolls-Royce Wins £24 Million Subsea Contract
Oct 31 14
Rolls-Royce has signed a major contract to supply a complete module handling system to the subsea construction vessel Aker Wayfarer. The vessel was built by Vard Soviknes in 2010 and will now undergo project modification work at Kleven's Myklebust Verft yard in Norway. The contract is with Ocean Yield ASA, and the vessel is under long term charter with AKOFS Offshore. The £24 million contract is a single subsea vessel project ever undertaken by Rolls-Royce. The 157m long, 16,000t Aker Wayfarer will be modified by Myklebust Verft to allow for the deepwater installation and retrieval of subsea equipment; subsea trees and modules, including subsea structures and manifolds.