Last checked at 8 Nov 2021 07:45
08 November 2021
ROLLS-ROYCE COMPLETES SALE
OF CIVIL NUCLEAR INSTRUMENTATION & CONTROL BUSINESS
Rolls-Royce announces the completion of the sale of our civil nuclear instrumentation & control (I&C) business to Framatome. The completion of the transaction, which was first announced on 7 December 2020, follows recent clearance from the relevant regulatory authorities.
The proceeds received by Rolls-Royce contribute towards our target to generate at least £2bn from disposals, as announced last year, and will be used to help strengthen the Rolls-Royce balance sheet in support of the company's medium term ambition to return to an investment grade credit profile.
The I&C business, which in 2020 reported revenues of £74m, includes all the Rolls-Royce activities and teams based in Grenoble (France), Prague (Czech Republic), Beijing and Shenzhen (China). No UK-based employees are impacted as this agreement does not include our UK civil nuclear business, or small modular reactor activities, which will continue contributing to the provision of low carbon power for the UK.
For further information, please contact:
MediaRichard Wray
Director of External Communications & Brand, Rolls-Royce plc
Tel +44 (0) 7810 850055
Richard.Wray@Rolls-Royce.com
Investors
Isabel Green
Head of Investor Relations, Rolls-Royce plc
Tel +44 (0) 7880 160976
Isabel.Green@Rolls-Royce.com
www.rolls-royce.com
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 product 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 £11.76 billion in 2020 and we invested £1.25 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 is publicly traded company (LSE: RR., ADR: RYCEY, LEI: 213800EC7997ZBLZJH69)