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Rolls-Royce Holdings PLC, the British aerospace and defence company announced a takeover sale of the German internal combustion engine manufacturer Deutz AG’s engine business. The agreement, in a ‘high double-digit million euros’ range, deals with diesel engines and engine systems using Daimler technology which are developed by Daimler Truck AG for Rolls-Royce Power Systems. Following a final deal, the closing is expected from mid-2024, subject to regulatory approvals. The engines under discussion are the series 1000, 1100, 1300 and 1500 and Classic series 0M900 and 0M460. The company said that until the agreement closes, its Power Systems division will continue working unaffected. Rolls-Royce Power Systems currently has exclusive rights to the global distribution of off-highway engines using Daimler technology, with the original contract term set to expire in April 2028. ‘This is a clear illustration of our strategy in action. Becoming more focused on the markets where we know Rolls-Royce can win. Power Systems is an integral part of our organisation with a strong brand and real advantage in power generation, governmental and marine end-markets, where we see the strongest demand and an opportunity for better returns from our power-dense and reliable solutions,’ said Rolls-Royce Chief Executive Officer Tufan Erginbilgic. Shares in Rolls-Royce were up 1.5% at 306.30 pence each in London on Thursday afternoon. source: dpa Copyright 2023 Alliance News Ltd. All Rights Reserved.
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