Thu, Aug 14, 2008
Sign LOI For Joint Venture
Goodrich Corporation and Rolls-Royce plc announced Thursday
both companies have signed a Letter of Intent proposing the
formation of a joint venture company, which would develop and
supply engine controls for Rolls-Royce aero engines.
If the proposed joint venture goes ahead, it would enable the
two companies to integrate their engine controls activity more
closely. It would combine Goodrich's existing UK-based engine
controls design and manufacturing business and Rolls-Royce's
expertise in the integration of controls into the engine. Goodrich
would retain the aftermarket products and services business
associated with the joint venture's products.
Under the proposals, each of the contributing companies would
own 50 percent of the joint venture company. Both companies will
begin discussions with employee representatives on proposed
timescales for consultation.
"This proposed joint venture would allow us to align our
activities more closely, and reflects the importance we attach to
the engine control system in optimizing engine performance," said
Colin Smith, Director -- Engineering & Technology, Rolls-Royce
plc.
Curtis Reusser, Segment President for Electronics Systems at
Goodrich, added "This arrangement would bring benefits to both our
companies. Goodrich already works closely with Rolls-Royce and we
believe closer integration would provide an even more efficient
delivery of these important engine control systems."
Goodrich's UK-based controls design and manufacturing is based
in Birmingham and Belfast, UK. Rolls-Royce aero controls
engineers are based in Bristol and Derby in the UK, Dahlewitz in
Germany and Indianapolis, IN.
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