Rolls-Royce has reached an agreement to sell its Naval Propulsors & Handling business to Fairbanks Morse Defense. The sale comprises the naval propulsors units in Pascagoula, Mississippi and Walpole, Massachusetts, in the US, as well as the specialized naval handling systems unit in Peterborough, Ontario, Canada, according to the company's release.
The Naval Propulsors & Handling business manufactures and supports a range of specialist propellers and waterjets for naval applications, as well as specialized handling systems that enable the deployment and recovery of manned and unmanned craft, and other cargo, from naval vessels.
Rolls-Royce will retain its Naval Gas Turbines and Generator Sets operations, which provide power dense solutions for naval propulsion and onboard power needs.
Last year, Rolls-Royce presented its strategy to become a high performing, competitive, resilient and growing business to investors. In Defense, the focus is on strategic growth in the areas of combat, transport and submarines.
Until the transfer of the Naval Propulsors & Handling business is complete, Rolls-Royce Defense will continue its activities unchanged to ensure that customer relationships, delivery and service obligations remain unaffected.
This sale is subject to customary closing conditions, including regulatory review and approval. The financial details of the sale are not being disclosed.