logo
Plus   Neg
Share
Email

Rolls Royce To Acquire Siemens' EAircraft Business - Quick Facts

Rolls Royce Holdings plc (RYCEF.PK,RR.L,RYCEY.PK) agreed Tuesday to acquire the eAircraft business of Siemens AG (SIEGY.PK, SMAWF.PK). The agreement was signed at the International Paris Air Show in Le Bourget (France).

The partners have agreed not to disclose the financial details of the transaction. The acquisition is expected to complete late 2019, following a period of employee consultation.

Siemens' eAircraft business based out of Germany and Hungary comprises of the all-electric and hybrid-electric aerospace propulsion activities of Siemens. Electrification is set to have as dramatic an impact on aviation in the third era of aviation as the replacement of piston engines by gas turbines.

The electrification of flight is just one part of Rolls-Royce's commitment to making aviation more sustainable. They believe that pure electric, or all-electric, propulsion will power smaller aircraft in the foreseeable future, while larger aircraft will rely upon hybrid electric solutions.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Google CEO Sundar Pichai announced Monday a $10 billion Google for India Digitization Fund to help accelerate India's digital economy. The investment is planned over the next five to seven years through equity investments, partnerships, and operational, infrastructure and ecosystem investments. Logistics solutions provider Hi-Crush Inc. (HCR) announced Monday that it has voluntarily filed petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas. Hi-Crush has also entered into a Restructuring Support Agreement... Analog Devices, Inc. (ADI) and Maxim Integrated Products, Inc. (MXIM) announced Monday that they have entered into a definitive agreement under which ADI will acquire Maxim in an all stock transaction that values the combined enterprise at over $68 billion. The transaction, which was unanimously approved...
Follow RTT