Advertisement

Rolls-Royce expands nuclear services operations with acquisition

Power systems giant Rolls-Royce has acquired American business PKMJ Technical Services in an attempt to accelerate growth in the important nuclear services market.

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.

Advertisement - Article continues below

"PKMJ supports every nuclear utility in the US and Canada with an impressive portfolio of services and solutions and employs some of the most highly skilled people in the industry. We look forward to welcoming them into our business."

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

Advertisement
Advertisement

Recommended

Visit/investments/investment-strategy/601044/broker-safety-your-questions-answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
Visit/investments/investment-strategy/600861/how-demographics-affects-stock-valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Visit/investments/stocks-and-shares/600863/sirius-minerals-anglo-american-takeover
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Visit/investments/stockmarkets/600634/why-investors-should-be-cautiously-bullish-for-2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

Visit/investments/commodities/gold/601444/these-seven-charts-show-exactly-why-you-must-own-gold-today
Gold

These seven charts show exactly why you must own gold today

Covid-19 is accelerating many trends that were already in existence. The rising gold price is one such trend. These seven charts, says Dominic Frisby,…
3 Jun 2020
Visit/economy/eu-economy/601463/why-a-stronger-euro-is-good-news-for-investors
EU Economy

Why a stronger euro is good news for investors

The fragile state of the eurozone has for a long time brought the threat of deflation. But the ECB’s latest moves have dampened those fears. John Step…
5 Jun 2020
Visit/investments/stockmarkets/601460/disease-rioting-and-mass-unemployment-so-why-are-markets-soaring
Stockmarkets

Disease, rioting and mass unemployment – so why are markets soaring?

Despite some pretty strong headwinds in the last year, America’s S&P 500 stock index is close to all-time highs. John Stepek explains why markets seem…
4 Jun 2020