Rolls-Royce sells helicopter engine JV stake to Turbomeca for $386 mn

Aerospace and defence company  Rolls-Royce Holding Plc has sold its 50-per cent stake in the joint venture that makes engines for Apache and Merlin helicopters to Turbomeca, a unit of French multinational Safran, for €293m ($386 million).

Turbomeca will now assume full responsibility for the design, production and support of the RTM322 engine, which powers the Apache, EH101 Merlin and NH90 helicopters.

Rolls-Royce, the world's second-biggest maker of aeroplane engines after General Electric,  said that it will progressively transfer its operational responsibilities in the engine programme to Turbomeca over a multi-year period.

During this transfer period Rolls-Royce will provide full assistance to Turbomeca to ensure all RTM322 customers continue to receive effective support.

The RRTM Adour engine programme, which powers the Hawk and Jaguar aircraft, is unaffected by this sale, as are the other helicopter engine programmes in the Rolls-Royce portfolio.

Rolls-Royce is a world-leading provider of power systems and services for use on land, at sea and in the air, and has established a strong position in global markets - civil aerospace, defence aerospace, marine and energy.

The West Sussex, England-based company has a broad customer base comprising more than 300 airlines, 4,000 corporate and utility aircraft and helicopter operators, 160 armed forces, more than 4,000 marine customers, including 70 navies, and energy customers in more than 80 countries.