LONDON - Rolls-Royce, the British maker of aircraft engines, said Thursday that it had agreed with United Technologies Corp. (IW 500/23) to abandon their joint project to power midsize planes, citing regulatory issues.
Rolls (IW 1000/234) said however that it remained "fully committed" to the sector.
"In October 2011, Rolls-Royce and United Technologies Corp. (UTC) announced their intention to form a new joint venture to develop an engine to power future midsize aircraft (120-230 passenger aircraft)," Rolls said in a short statement.
"Following further discussion, and because of the current regulatory environment, the parties have agreed not to proceed with the partnership."
The statement added: "Rolls-Royce remains fully committed to this important market segment and will continue to invest in technologies that will enable us to take advantage of opportunities as they arise."
Copyright Agence France-Presse, 2013