Publish Date : 23-May-2014
Rolls-Royce has signed a Memorandum of Understanding (MoU) with Aselsan A.S, one of Turkey's leading electronics companies, to explore potential collaboration opportunities in the area of engine control systems.
Commenting on the agreement Bob Stoddart, Rolls-Royce President of Customer Business – Defence, said: "Having had some very positive initial discussions with the team at Aselsan we believe that there are some exciting opportunities around the areas of engine control systems and engine health monitoring that may help us both to grow our business in the Turkish market. This MoU enables us to have a more meaningful discussion and explore potential future collaboration.
"Turkey is an important market for Rolls-Royce and offers several exciting collaborative opportunities for our defence business in the areas of combat aircraft, helicopters and transport aircraft and the provision of support to our expanding engine fleet powering the Turkish Armed Forces."
Chairman of the Aselsan Board, Mr. Hasan Canpolat, stated: "We believe that, through this agreement, Aseslan and Rolls-Royce can create synergies and solutions that will bring benefits both in Turkey and to the wider global market."
Rolls-Royce's vision is to create better power for a changing world via two main business segments, Aerospace and Marine & Industrial Power Systems (MIPS). These business segments address markets with two strong technology platforms, gas turbines and reciprocating engines, for use on land, at sea and in the air.
Aerospace comprises Civil Aerospace and Defence Aerospace. MIPS comprises Marine, Energy & Nuclear and Power Systems (RRPS). On 7 March 2014, Daimler announced their intention to exercise their option to sell their 50% share in RRPS to Rolls-Royce Holdings plc. On 16 April 2014, the valuation was agreed and the transaction is expected to complete within the coming months, subject to the usual regulatory approvals. On 6 May 2014 Rolls-Royce announced it had signed an agreement to sell its Energy gas turbine and compressor business to Siemens for a Ł785m cash consideration. On completion, expected before the end of December 2014, Rolls-Royce will receive a further Ł200 million for a 25 year licensing agreement.
Rolls-Royce has customers in more than 120 countries, comprising more than 380 airlines and leasing customers, 160 armed forces, 4,000 marine customers, including 70 navies, and 1,600 energy and nuclear customers.
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