Rolls-Royce: sells German-based fuel injection unit
(CercleFinance.com) - Rolls-Royce shares are up nearly 2% on Monday after the British engine maker agreed to sell its L'Orange unit to US-based Woodward for an enterprise value of 700 million euros (610 million pounds).
L'Orange - which will be renamed Woodward L'Orange - supplies fuel injection technology for engines that power a wide range of industrial applications, including marine power and propulsion systems.
Headquartered in Stuggart, L'Orange - which has approximately 1,000 employees - mainly operates in Germany, but also in the US and China.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
L'Orange - which will be renamed Woodward L'Orange - supplies fuel injection technology for engines that power a wide range of industrial applications, including marine power and propulsion systems.
Headquartered in Stuggart, L'Orange - which has approximately 1,000 employees - mainly operates in Germany, but also in the US and China.
Copyright (c) 2018 CercleFinance.com. All rights reserved.