Rolls-Royce nets £90m as deal to offload engines business completes

Rolls-Royce has completed the sale of its Bergen Engines business in Norway to Retford-based Langley Holdings, in a deal that will see the Derby manufacturer net almost £90m.

The deal is part of the Derby manufacturer’s plans to dispose on non-core businesses and save £2bn.

The sale includes the Bergen Engines factory, service workshop and foundry in Norway; engine and power plant design capability; and a global service network spanning more than seven countries. Bergen Engines employs more than 900 people worldwide including 650 in the main factory in Hordvikneset.

Langley Holdings is a global, engineering group with its main operations in Germany, Italy, France and the UK, alongside a substantial presence in the US. The group employs around 4,600 people. Its activities range from the production of uninterruptible power systems, packaging machinery and electric motors and generators, to the manufacture of safety-critical mechanical handling equipment including for the UK Ministry of Defence’s submarine missile loading facility at Coulport, Scotland.

Rolls-Royce’s share price rose by over 4% on Tuesday morning (January 4) on the back of the news.