Buy
Sell
Share Name Share Symbol Market Type Share ISIN Share Description
Rolls-royce Holdings Plc LSE:RR. London Ordinary Share GB00B63H8491 ORD SHS 20P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.56 -0.53% 104.30 104.14 104.26 105.88 100.64 103.46 34,621,302 16:35:18
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Aerospace & Defence 11,824.0 -2,910.0 -53.0 - 8,727

Rolls-Royce Holdings plc Statement re: Bergen Engines

23/03/2021 10:55am

UK Regulatory (RNS & others)


Rolls-royce (LSE:RR.)
Historical Stock Chart


From Mar 2021 to May 2021

Click Here for more Rolls-royce Charts.

TIDMRR.

RNS Number : 1921T

Rolls-Royce Holdings plc

23 March 2021

23 March 2021

Statement re: Bergen Engines

We note the announcement by the Norwegian Government that the sale of Bergen Engines to TMH Group must be stopped. We followed the appropriate process in contacting the authorities in advance of the announcement of the sale on 4 February 2021. We have co-operated with the Government's subsequent review by pausing the sales process and believed we had identified a new owner willing to invest in the business and its people for the long-term. We await formal legal notification by the Norwegian Government.

Bergen Engines has a skilled workforce and significant future commercial opportunities, but the manufacture of medium-speed gas and diesel engines is not core to our long-term strategy and we do not intend to retain the business.

Today's announcement will cause significant uncertainty in Bergen Engines, which employs more than 900 people worldwide including 650 in the main factory in Hordvikneset. We will be seeking the assistance of the Norwegian Government to swiftly find another option, which can provide Bergen Engines and its people with the investment required for the future and Rolls-Royce with an appropriate outcome.

We remain committed to our target, as set out originally on 27 August 2020, to raise at least GBP2bn from disposals by early 2022.

About Rolls-Royce Holdings plc

1. Rolls-Royce pioneers the power that matters to connect, power and protect society. We have pledged to achieve net zero greenhouse gas emissions in our operations by 2030 [excluding testing] and joined the UN Race to Zero campaign in 2020, affirming our ambition to play a fundamental role in enabling the sectors in which we operate achieve net zero carbon by 2050.

2. Rolls-Royce has customers in more than 150 countries, comprising more than 400 airlines and leasing customers, 160 armed forces and navies, and more than 5,000 power and nuclear customers.

3. Annual underlying revenue was GBP11.76 billion in 2020 and we invested GBP1.25 billion on research and development. We also support a global network of 28 University Technology Centres, which position Rolls-Royce engineers at the forefront of scientific research.

   4.   Rolls-Royce Holdings plc LEI: 213800EC7997ZBLZJH69 

For further information, please contact:

Richard Wray

Director of External Communications and Brand

richard.wray@rolls-royce.com

M +44 (0)7810 850 055

Isabel Green

Head of Investor Relations

isabel.green@rolls-royce.com

M: +44 (0)7880 160 976

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

STRJJMMTMTATBJB

(END) Dow Jones Newswires

March 23, 2021 06:55 ET (10:55 GMT)

1 Year Rolls-royce Chart

1 Year Rolls-royce Chart

1 Month Rolls-royce Chart

1 Month Rolls-royce Chart
ADVFN Advertorial
Your Recent History
LSE
RR.
Rolls-royc..
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20210514 01:52:49