Latest News | 10 August 2021
Rolls-Royce agrees sale of Norwegian business
Engineering giant Rolls-Royce has agreed the sale of one of its businesses based in Norway.
The firm, which has its civil aerospace and defence divisions in Derby, has signed an agreement to sell Bergen Engines to global engineering group Langley Holdings plc for an enterprise value of 63 million euros.
Bergen Engines, which specialises in medium speed liquid fuel and gas engines, employs more than 900 people worldwide, including 650 in the main factory in Hordvikneset.
The sale includes the factory, service workshop and foundry in Norway, engine and power plant design capability and a global service network spanning more than seven countries.
The sale is part of Rolls-Royce’s ongoing strategy to create a “more focused group” and contributes towards the firm’s target to generate at least £2 billion from disposals.
Warren East, chief executive of Rolls-Royce, said: “We believe that this agreement will provide Bergen Engines and its skilled workforce with a new owner able to take the business on the next step of its journey.
“The sale of Bergen Engines is a part of our ongoing portfolio management to create a simpler, more focused group and contributes towards our target to generate at least £2 billion from disposals, as announced last year.”
Anthony Langley, chairman and chief executive of Langley Holdings, said: “We are very pleased to have reached this agreement with Rolls-Royce.
“The acquisition of Bergen Engines is a strategic step in the development of our power solutions division and I am looking forward to welcoming the 900 plus employees of Bergen Engines to our family of businesses.”
The deal is expected to be completed by 31 December.
