Quick Facts
FONT-SIZE Plus   Neg
Share SHARE
mail  E-MAIL

Rolls-Royce Secures $598 Mln V-22 Engine Contract - Quick Facts

4/23/2012 2:08 AM ET

Rolls-Royce Holdings Plc (RYCEY.PK,RR.L) said it won a $598 million contract from the US Department of Defense for 268 AE 1107C engines for US Marine Corps and Air Force V-22 aircraft.

As part of the deal, in the first year, Rolls-Royce will deliver 70 engines valued at $151 million. The contract includes four additional option years, with deliveries expected to total 268, including spare engines.

According to Rolls-Royce, its turbo shaft engines help provide the unique capability for the V-22, allowing the tilt-rotor aircraft to take off and land like a helicopter, and to rotate its engines forward to fly like an airplane. The V-22 aircraft can carry more troops, fly faster and has greater range than the helicopters it will replace.

Click here to receive FREE breaking news email alerts for Rolls-Royce Group plc and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
First-time claims for U.S. unemployment benefits rose by more than expected in the week ended April 19th, according to a report released by the Labor Department on Thursday, with initial jobless claims climbing further off their recent lows. The report said initial jobless claims rose to 329,000, an increase of 24,000 from the previous week's revised figure of 305,000. After giving back some ground in the previous session, stocks are likely to move back to the upside in early trading on Thursday. The major index futures are currently pointing to a higher open for the markets, with the Dow futures up by 40 points. European Central Bank President Mario Draghi said on Thursday that any worsening of the euro area inflation outlook may prompt the bank to adopt a broad-based asset buying scheme. "Unlike the other contingencies, the objective here would not be to defend the current stance, but rather to increase meaningfully the degree of monetary accommodation," Draghi said in a speech in Amsterdam.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.