Rolls-Royce wins 52m-dollar engine contract with US forces

Power systems giant Rolls-Royce is to provide repair and support services for aircraft engines operated by the US Marine Corps and Air Force as part of a contract worth 52.2m dollars.

Power systems giant Rolls-Royce is to provide repair and support services for aircraft engines operated by the US Marine Corps and Air Force as part of a contract worth 52.2m dollars.

From the company's facilities in Indianapolis, Indiana, and Oakland, California, as well as fleet support at customer bases, Rolls-Royce will work on the AE 1107C turboshaft.

The engines are part of the AE product family, which has over 5,000 engines in service and more than 53m flight hours. The US Marine Corps and Air Force exclusively uses AE products to power the growing V-22 aircraft fleet.

"This contract represents another vote of confidence in the support and services offered by Rolls-Royce to our US military customers," said Paul Craig, the President of the company's Defence Services division.

"We are focused on enabling our customers to keep their aircraft flying and supporting them every day to allow their missions to go forward."

Recommended

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

Oil producers are back at their Covid-19 lows – is it time to buy?
Oil

Oil producers are back at their Covid-19 lows – is it time to buy?

With demand for oil hammered by Covid-19 and talk of “peak oil demand”, there are lots of good reasons to be bearish on oil producers. So, asks John S…
22 Sep 2020
The rising dollar is proving bad news for most other assets – will it last?
Investment strategy

The rising dollar is proving bad news for most other assets – will it last?

Precious metals, stocks and pretty much every other asset has taken a tumble as the US dollar strengthens. Dominic Frisby looks at how long this trend…
23 Sep 2020
Why you should stuff your end-of-pandemic portfolio with Chinese stocks
China stockmarkets

Why you should stuff your end-of-pandemic portfolio with Chinese stocks

For an end-of-pandemic portfolio, you need assets that can cope with today’s volatility. And that, says Merryn Somerset Webb, means Chinese stocks.
14 Sep 2020