Aircraft engine maker Rolls-Royce (IW 1000/229) said on June 8 that it will buy the 50% of Aero Engine Controls that it does not already own from joint venture partner Goodrich for an undisclosed amount.
Rolls-Royce said that the deal has been agreed with United Technologies Corp. which is in the process of acquiring Goodrich. It added that the acquisition would have no material impact on this year's finanical performance.
"Engine control systems play an increasingly important part in enhancing the fuel efficiency and overall performance of modern jet engines," Rolls-Royce said.
"This acquisition will give Rolls-Royce full ownership of a critical capability that confers competitive advantage."
Aero Engine Controls was formed in 2009 when Goodrich Corp.. and Rolls-Royce decided to combine their engine controls operations.
The joint venture designs and produces engine control systems including electronic engine controllers, fuel pumps and fuel metering units. It employs about 1,400 people and has sites in Birmingham, Derby and Belfast, and also in Indianapolis.
Copyright Agence France-Presse, 2012
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