Rolls-Royce to Buy Siemens eAircraft Business for Undisclosed Sum
June 18 2019 - 6:13AM
Dow Jones News
By Oliver Griffin
Rolls-Royce Holdings PLC (RR.LN) has agreed to buy Siemens AG's
(SIE.XE) electric aircraft propulsion business for an undisclosed
sum.
The British engineering company said Tuesday that it expects to
complete the deal for eAircraft later in the year following an
employee consultation, as it positions itself to play "a major
role" in the third era of aviation.
Rolls-Royce made no comment about the deal's financial details,
though Germany's Siemens said the two parties had agreed to not
disclose any financial terms.
The eAircraft business is based in Germany and Hungary and
employs around 180 specialist electrical designers and engineers
who are developing a range of all-electric and hybrid electric
propulsion solutions for the aerospace industry.
Write to Oliver Griffin at oliver.griffin@dowjones.com;
@OliGGriffin
(END) Dow Jones Newswires
June 18, 2019 05:58 ET (09:58 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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