Friday, July 6, 2018

"Rolls-Royce to sell commercial marine business for £500m to Norway's Kongsberg"

From City AM:
Rolls-Royce has agreed to sell its marine unit for £500m to Kongsberg, a maritime, technology and defence firm based in Norway.

The sale is part of Rolls-Royce's strategic review into its commercial marine operations, which made an operating loss of £70m in 2017.

Disposal of the unit is expected to have a £50m positive profit impact for Rolls-Royce.
"This transaction builds on the actions we have taken over the last two years to simplify our business," said chief executive Warren East. "The sale of our Commercial Marine business will enable us to focus on our three core businesses and on meeting the vital power needs of our customers."

The move is valued at £500m, though after takingpension liabilities and other costs into account, it will net the company between £350m and £400m...MORE
Our last few looks at Rolls-Royce focused on the autonomous shipping angle:

Rolls-Royce and AXA Partner on Risk Management Products for Autonomous Shipping
Following just a half-step behind the technologists are the insurance salesmen.
From gCaptain:
 A conceptual design by Rolls-Royce of an 1,000 TEU unmanned feeder vessel. Image credit: Rolls-Royce

Global Race To Develop Self-Navigating Ships Leaves U.S. Behind
"World’s First Autonomous Shipping Company Established in Norway"
Autonomy: "Rolls-Royce’s cargo ship of the future requires no onboard crew"
"Forget Autonomous Cars—Autonomous Ships Are Almost Here" 
This is a bit of an infomercial for Rolls-Royce but still the best generalist overview currently available.
From the brainiacs at IEEE Spectrum:...