Rolls-Royce Completes Purchase ofRotating Products Business From Cooper Cameron
RESTON, Va.--- Rolls-Royce plc, the civil aerospace, defense, marine and energy group, has completed the purchase of the rotating products interests of Cooper Energy Services (CES), part of Cooper Cameron Corporation following formal regulatory approval. Rolls-Royce announced the acquisition, for $180 million, in August. The business, based in Mount Vernon, Ohio, will now be named Rolls-Royce Energy Systems Inc. The purchase also gives Rolls-Royce 100 per cent ownership of the joint venture company, Cooper Rolls. The acquisition is expected to enhance the earnings of Rolls-Royce in the first full year of operation. It is consistent with the company's strategy to grow its global energy business by providing solutions for customers in the power generation and oil and gas markets. Rotating compression and control equipment is widely used in the oil and gas industry worldwide -- both on and offshore -- for natural gas gathering, processing, storage and transmission. Rolls-Royce plc is a global company meeting present and future requirements of civil aerospace, defense, marine and energy markets, with facilities in 14 countries. 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 with 300 airlines, 2,400 corporate and utility operators and more than 100 armed forces, powering both fixed and rotary wing aircraft. In addition, more than 30 navies use Rolls-Royce propulsion. Energy markets include the oil and gas industry and power generation. Rolls-Royce, the pioneer of gas turbine technology for aerospace, power generation and marine propulsion, is today involved in the major future programs in these fields, including the Trent aero and industrial engines, combat engines for the Eurofighter Typhoon and Joint Strike Fighter, and the WR21 marine engine.
-ends-
Rolls-Royce Completes Purchase ofRotating Products Business From Cooper Cameron
