Money: Rolls-Royce‎ eyes French buyer for civil nuclear arm - PressFrom - United Kingdom
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MoneyRolls-Royce‎ eyes French buyer for civil nuclear arm

05:15  21 august  2019
05:15  21 august  2019 Source:   news.sky.com

Rolls-Royce narrows losses despite ongoing engine woes

Rolls-Royce narrows losses despite ongoing engine woes The engine-maker reported statutory interim pre-tax losses of £791 million against £1.2 billion a year ago. On an underlying basis, half-year profits rose 16% to £94 million for the six months to June 30, while operating profits jumped 32% to £203 million. Rolls said problems with its Trent 1000 turbines were still causing some customer disruption, while it hiked the estimated in-service costs of dealing with the issue by £100 million over the next three years.

Rolls - Royce Holdings plc (company number 04706930) is a British multinational engineering company incorporated in February 2011 that owns Rolls - Royce , a business established in 1904 which today designs, manufactures and distributes power systems for aviation and other industries.

Rolls - Royce has confirmed it is in talks with Chinese state-run firm China General Nuclear (CGN) The UK engineering company makes instrumentation and control systems for nuclear reactors. Its instrumentation and controls business, based in the French city of Grenoble, supplies systems used

Rolls-Royce‎ eyes French buyer for civil nuclear arm © Imagebridge Rolls-Royce is involved in the development of Hinkley Point C as well as a string of other sensitive projects in the UK

A French-led consortium is in advanced talks to buy a big chunk of Rolls-Royce‎ Holdings' civil nuclear operations as part of a deal that will continue the transformation of one of Britain's most important industrial groups.

Sky News has learnt that Framatome, ‎which is majority-owned by the French energy group EDF, is close to sealing a deal to buy Rolls-Royce's international instrumentation and control (I&C) division.

City sources said an announcement was likely in the coming weeks.

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The Rolls - Royce pressurised water reactor (PWR) series has powered British nuclear submarines since the Valiant class, commissioned in 1966. The first British nuclear submarine, HMS Dreadnought, was powered by a Westinghouse S5W reactor.

Rolls - Royce eyes cut of £50bn nuclear market. Rolls - Royce is creating a nuclear unit to ensure that it gets a slice of the global civil nuclear market that the engineer believes will be Rolls is already contracted to both EDF, the French utility, and Westinghouse, the US nuclear giant, as part

If completed, the deal, which is likely to be worth around £100m, would hand control of a business supplying more than half of the world's nuclear reactors to Framatome.

The EDF-led company is also part-owned by Japan's Mitsubishi‎ and Assystem, another French business.

Rolls-Royce is pursuing parallel talks to sell the rest of its international civil nuclear operations to a US-based private equity firm, sources said on Tuesday.

That division, which is based in the US but supplies customers around the world, is focused on services such as the provision of data analytics tools to nuclear power stations.

News of the negotiations over a sale emerged on the same day that Wood, the UK-based energy services group, said‎ it was selling its nuclear business to US-based infrastructure giant Jacobs.

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Rolls - Royce did not confirm or deny the report, but told NucNet today that it is “conducting a review of options for its international civil nuclear business”. The division specialises in monitoring and control equipment for measuring the temperature and radiation levels from nuclear reactors.

Rolls - Royce is committed to research and technology in order to develop innovative and advanced power systems that can help. Rolls - Royce continues to be a market leader in powering large corporate jets. The latest version of Cessna’s flagship aircraft, the Citation X+, entered service in June

People close to the process emphasised that the review being undertaken by Rolls-Royce did not include its UK-based civil nuclear operations.

The UK business is involved in a string of sensitive projects such as the UK's nuclear new-build programme and the prospective development of small nuclear reactors for commercial use.

In total, the sale of the two parts of the civil nuclear unit to Framatome and the US private equity investor are expected to command a price tag of approximately £200m.

KPMG's corporate finance unit is advising Rolls-Royce on the sale process.

The valuation is small in the context of Rolls-Royce's market capitalisation of more than £14bn.

Nevertheless, if the disposals complete, they would mark another milestone in chief executive Warren East's reshaping of the engineering giant.

Mr East, who took the helm in ‎2015, has fought an intense battle to transform the company's financial and operating performance.

Pedestrian, 66, is knocked down and killed by a £240,000 purple Rolls Royce near Hyde Park in the middle of London's supercar season

Pedestrian, 66, is knocked down and killed by a £240,000 purple Rolls Royce near Hyde Park in the middle of London's supercar season The Metropolitan Police were called to the central London area at just after 3am this morning, and the man, who has not been identified, was declared dead at the scene. The driver involved in the collision stopped and there have been no arrests. A £240,000 purple Rolls Royce was seen inside the cordon as officers carried out their investigation. The death crash comes in the middle of London's supercar 'season', when the owners of luxury cars from around the world show off their vehicles in the capital. It is not known whether the car involved in foreign-registered.

Rolls - Royce Civil Nuclear . National Grid Carbon Ltd. Coventry University (Lanchester College). A successful Commercial Manager with more than 30 years’ experience in the nuclear industry including PWR, AGR and Magnox power stations and defence.

The Civil Nuclear Constabulary (CNC) (Welsh: Heddlu Sifil Niwclear) is a special police force responsible for providing law enforcement and security at any relevant nuclear site and for security of

It has been forced into a major programme to compensate airline customers affected by problems with its Trent 1000 engine.

The company also said recently that it had spent £100m on preparations for a no-deal Brexit, largely on building additional inventory and logistical arrangements.

Shares in Rolls-Royce closed on Tuesday up 0.8% at 769p, although they have fallen by nearly a quarter during the last year.

Rolls-Royce declined to comment.

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