ErnieBilco
4 weeks ago
Today's news:
Rolls-Royce (LSE: RR., ADR: RYCEY) 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.
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.
Adam Riddle, President – Defense and Chairman & CEO, Rolls-Royce North America, said:
Rolls-Royce Naval Propulsors & Handling is an industry leader and trusted supplier to navies around the world. We are pleased to collaborate with Fairbanks Morse Defense, who recognizes the value of this business and the outstanding opportunities for its strong future. We believe this transaction represents the best outcome for the business, its people and the military customers they serve."
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.
ErnieBilco
3 months ago
Found this just a short while ago, thought it might interest you.
And I hope it goes without saying that we have no idea whether investors will get lusty about either of these in the coming months — always possible, almost never predictable. If you want something much more conventional and predictable, and currently profitable, you could probably do worse than BWX Technologies (BWXT) or Rolls-Royce (RR.L, RYCEY, RYCEF) among the more diversified SMR hopefuls… or the big utilities who own a lot of large conventional nuclear reactors, like Constellation Energy (CEG) and Vistra (VST), who are also seeing their day in the sun right now. None have anywhere near the growth potential of Oklo or NuScale if their designs really take off over the next decade and go into mass production… but none are as likely as those startups to lose 90% of their value in the next few years, either.
This was in a Stock Gumshoe analysis of SMRs (Small Modular Reactors) which RR is heavily into development.
CrowsDaddy
4 months ago
HighPoint Advisor Group LLC acquired a new stake in Rolls-Royce Holdings plc (OTCMKTS:RYCEY – Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 17,135 shares of the aerospace company’s stock, valued at approximately $65,000.
Separately, Tieton Capital Management LLC bought a new stake in shares of Rolls-Royce Holdings plc during the fourth quarter valued at about $75,000. 0.07% of the stock is owned by institutional investors.
CrowsDaddy
4 months ago
HighPoint Advisor Group LLC acquired a new stake in Rolls-Royce Holdings plc (OTCMKTS:RYCEY – Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 17,135 shares of the aerospace company’s stock, valued at approximately $65,000.
Separately, Tieton Capital Management LLC bought a new stake in shares of Rolls-Royce Holdings plc during the fourth quarter valued at about $75,000. 0.07% of the stock is owned by institutional investors.
ErnieBilco
7 months ago
News out today:
Rolls-Royce today welcomed the announcement that the Australian Government would be investing in its ongoing AUKUS preparations. This supplements the expansion funding already committed by the UK Ministry of Defence (MOD).
To meet the growth in demand from the Royal Navy, which includes AUKUS delivery commitments, work is already underway to double the size of the Rolls-Royce Submarines site in Raynesway, Derby.
Now jointly funded by UK MOD and the Australian Department of Defence, the expansion work announced last summer will create over 1,000 new jobs in Derby across a range of disciplines, including manufacturing and engineering. It will also see new manufacturing and office facilities being built on recently acquired land surrounding the existing Raynesway site.
In March 2023 it was confirmed that Rolls-Royce Submarines would provide all the nuclear reactor plants that will power new attack submarines as part of the tri-lateral agreement between Australia, the UK and US.
Rolls-Royce Submarines President Steve Carlier said:
Last year we were proud to welcome the Hon Richard Marles MP, Australia’s Deputy Prime Minister and Minister for Defence, and UK Defence Secretary Grant Shapps, to our Raynesway site to showcase some of the world-class manufacturing and engineering capabilities we have developed over the last 60 years.
This commitment of funding to our existing expansion work shows the trust Australia places on our nuclear expertise and our ability to deliver. We look forward to working with the Australian Submarine Agency to support them in building their own fleet of nuclear-powered submarines.”
Grant Shapps MP, UK Secretary of State for Defence, said:
In a more dangerous world, today’s announcement symbolises the huge confidence our close partner Australia has in our world-leading defence industry, including companies such as BAE Systems and Rolls-Royce.
Through these collaborations, British industry will grow, and thousands of jobs created across the country, delivering security and prosperity to our two nations.”
To support preparation for AUKUS and to meet the additional commitments to the MOD, Rolls-Royce recently announced the opening of two satellite offices in Glasgow and Cardiff. The locations were selected to help access the skilled talent pools in both regions, with more than 100 jobs being created in each city.
To further ensure a steady pipeline of future talent into the industry, Rolls-Royce opened a new Nuclear Skills Academy in Derby in 2022. It will provide 200 apprenticeships each year for at least the next decade.
Rolls-Royce Submarines currently employs more than 4,000 people and designs, manufactures and provides in-service support to the pressurised water reactors that power every boat in the Royal Navy’s submarine fleet.
Rolls-Royce is currently supporting the existing Astute and Dreadnought boat build programmes through the delivery of reactor plant and associated components. Additionally, it provides frontline support across the world for reactor plant equipment from its Operations Centre in Derby and supports the submarines when in the Barrow-in-Furness shipyard and the naval bases at Devonport and Faslane.
ErnieBilco
7 months ago
Feb PR:
Rolls-Royce (LSE: RR., ADR: RYCEY) today announces a commitment by Vietjet Air for 20 Trent 7000 powered A330neo, which will complement the airline’s existing widebody fleet of seven Trent 700 powered A330ceo aircraft.
With a laser focus on sustainability, Vietjet Air has committed to the A330neo/Trent 7000 combination as it delivers a 14% better fuel burn per seat, whilst significantly lowering emissions. The reduction in emissions will allow the airline to avoid more than one hundred thousand tons of CO2 over the lifetime of each aircraft.
The Trent 7000 draws on the technology and experience of the most advanced family of engines in the world. As the latest member of the Trent family, the Trent 7000 is based on Trent XWB technology and has delivered exceptional reliability since its entry into service.
Ewen McDonald, Chief Customer Officer, Rolls-Royce – Civil Aerospace, said:
Today’s commitment demonstrates Vietjet Air’s confidence in the power of the Trent 7000 to deliver significant sustainability gains alongside a reliable and consistent customer experience. We are proud to continue supporting Vietjet Air as they expand their operation responsibly and sustainably over the coming years.”
Vietjet Air, Chief Executive Officer, Dinh Viet Phuong, said:
The combination of modern Trent 7000 engines on the newest generation of Airbus A330neo will help Vietjet Air reach new technological heights, improve the quality of our flights, and increase the reliability and efficiency of our operations. Specifically, the addition of newest generation, high-efficiency Rolls-Royce engines will contribute significantly to Vietjet Air’s ESG plan to achieve net zero emissions by 2050.”