Fairbanks Morse Defense to Acquire Rolls-Royce Naval Propulsors & Handling Business
ROLLS ROYCE HLDGS S/ADR (RYCEY)
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rolls-royce.com/investors.aspx
Company Research
Source: Business Wire
BELOIT, Wis.--(BUSINESS WIRE)--Fairbanks Morse Defense (FMD), a portfolio company of Arcline Investment Management (Arcline), has entered into an agreement with Rolls-Royce to acquire its Naval Propulsors and Handling business. The acquisition will include a range of propellers and waterjets for naval applications, as well as marine handling systems, which enable the deployment and recovery of manned and unmanned craft, and other cargo, from naval vessels.“When you look at the 150-year history of Fairbanks Morse Defense, you will find a handful of distinctive moments that completely transformed this company. We believe the acquisition of Rolls-Royce naval propulsors and handling businesses will become one of those moments,” said George Whittier, CEO of Fairbanks Morse Defense. “The way that our products and services complement each other is unmatched in the defense industrial base. Combining our capabilities allows Fairbanks Morse Defense to substantially increase what we offer to
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