Power systems giant Rolls-Royce has acquired American business PKMJ Technical Services in an attempt to accelerate growth in the important nuclear services market.
The acquisition, for an undisclosed amount, "represents another significant step towards growing our global civil nuclear business and providing customers with a suite of services to deliver safe and efficient lifecycle operations," according to Lawrie Haynes, the President of Rolls-Royce's Nuclear division.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Rolls-Royce's nuclear services activity account for more than half of its civil nuclear business.
In a separate statement, the company said that it has won a £26m order to provide a design, power and propulsion and equipment package for four Rolls-Royce UT 771 CDL offshore supply vessels to be built at a Chinese shipyard for a Hong Kong owner. The contract also includes options for four additional vessels.
Anders Almestad, the President of Rolls-Royce Offshore, said: "We are very pleased that COSCO have chosen to come back to us with a new customer. This shows that they have confidence in our integrated systems and ship design capabilities.
BC
-
Review: The Hut, Colwell Bay – a seafood lunch with a holiday feelTravel Getting to The Hut in Colwell Bay on the Isle of Wight is almost as rewarding as actually eating there
-
What is the 7 year inheritance tax rule and how does it help cut your bill?Speculation is rife chancellor Rachel Reeves has plans to target inheritance tax once again in her upcoming Budget. But the 7 year inheritance tax rule can save you thousands - here’s how it works.
