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Rolls-Royce announces two joint venture companies

Rolls-Royce plc, the aerospace, marine and energy group, and Sequa Corporation, through its subsidiary, Chromalloy Gas Turbine Corporation, have signed agreements to form two new joint venture companies, representing a total investment of £44 million between the partners.

Turbine Surface Technologies Ltd will provide advanced technology coatings for Rolls-Royce turbine components. The company, which is scheduled to begin operations in 2001, will be based in a new purpose-built facility in Sherwood Park, Nottingham, an enterprise action zone close to Rolls-Royce in Derby. The facility will eventually employ up to 170 people.

John Halstead, Managing Director, Turbine Systems for Rolls-Royce plc said: "The Coatings process is vitally important in the production of world class turbine components, and I am confident that this new partnership will allow us to share technology and expertise to maintain our leading position in this competitive marketplace."

Rolls-Royce has also formed a partnership with Chromalloy to provide advanced aero engine component repair services on RB211, Tay and Trent engines.

Turbine Repair Technologies Ltd will be based at Chromalloy's existing facility in Somercotes, Derbyshire, and will employ up to 170 people. Production for the new venture is scheduled to begin next month.

Ian Lloyd, Managing Director, Aero Repair and Overhaul, for Rolls-Royce said: "Chromalloy is among the leading repair companies and this joint venture allows us to pool our expertise and resources to provide enhanced repair services to our customers. Rolls-Royce has placed great emphasis on expanding its range of aftermarket services and this is a significant development."

Dr Martin Weinstein, Chairman and CEO, Chromalloy Gas Turbine Corporation, said: "Chromalloy is delighted to partner with Rolls-Royce in these ventures through which the customers of both companies will benefit from the sharing of complementary expertise and knowledge in the implementation and development of the turbine coatings and advanced repairs."

Note to Editors:

Rolls-Royce plc is a global company providing power on land, sea and air. The company has established leading positions in civil aerospace, defence, marine and energy markets. Its core gas turbine technology has created one of the broadest product ranges of aero engines in the world, with 55,000 engines in service in over 150 countries. Customers include more than 500 airlines, 2,400 corporate and utility operators and 160 armed forces, using both fixed and rotary wing aircraft.

Rolls-Royce is the global leader in marine power systems with a broad product range and full systems integration capability. Over 2,000 marine customers and more than 30 navies use Rolls-Royce propulsion. The company is investing in new products and capabilities for energy markets which include the oil and gas industry and power generation. It also develops its own power projects through Rolls-Royce Power Ventures Ltd.

Rolls-Royce pioneered gas turbine technology for aerospace, power generation and marine propulsion and is involved in the major future programmes in these fields. These include the Trent aero and industrial engines, the Eurofighter Typhoon and Joint Strike Fighter combat engines, the WR21 marine engine and leading edge water jet propulsion systems.

Chromalloy Gas Turbine Corporation, based in San Antonio, Texas, is the leading independent supplier in the commercial jet engine component aftermarket. Chromalloy provides proprietary advanced repairs and new replacement parts to the airline industry worldwide and also provides component repair services for advanced military jet engines. Chromalloy operates more than 25 installations around the world, including two facilities in the United Kingdom that presently employ 450 people.

Chromalloy is the largest operating unit of Sequa Corporation, a diversified technology company headquartered in New York whose other principal operations include: the production of solid and liquid propellent and rocket motors for missiles and space; the manufacture of automotive airbag inflators; the manufacture of speciality chemicals at a facility in the United Kingdom for distribution to the international detergent market; the coating of metal coil for building products and other uses; the manufacture of auxiliary printing equipment, machinery for the two-piece can industry and automotive cigarette lighters, among other operations.

SOURCE Rolls-Royce

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