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(Correcting to clarify that Rolls-Royce Holdings PLC has sold the business.)
Rolls-Royce Holdings PLC on Wednesday said it has struck a deal to sell its ‘lower-power-range engines business’ to Frankfurt-listed Deutz AG.
The business will be sold for a price in the ‘high double-digit million euros’.
‘This relates to diesel engines and engine systems using Daimler technology which are developed and manufactured by Daimler Truck AG for Rolls-Royce Power Systems to its specifications and used mainly in agricultural vehicles and construction machinery, not in rolling stock or in military vehicles,’ Rolls-Royce said.
Chief Executive Tufan Erginbilgic added: ‘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.’
Rolls-Royce shares were 0.1% higher at 302.10 pence each in London on Thursday.
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