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Safran SA Enters into a Definitive Agreement for the Purchase of the Rolls-Royce Share of the Joint RTM322 Helicopter Engine Program

Tuesday, 23 Apr 2013 01:03am EDT 

Safran SA announced that it has reached an agreement with Rolls-Royce to acquire Rolls-Royce’s 50% share in their joint RTM322 helicopter engine program. Upon closing, Turbomeca (Safran’s helicopter engine business) will assume global responsibility for the design, production, product support and services for the RTM322 engine, a 2,100-2,600 shp engine family equipping the Apache, EH101 and NH90 helicopters. Rolls-Royce will provide full support during a transition phase enabling progressive transfer of all their activities to Turbomeca under this program. The cash consideration for the transaction amounts to EUR 293 million. Apart from Rolls-Royce’s 50% share in the RTM322 program, the transaction also includes the intellectual property rights (IPR) related to this program as well as Rolls-Royce’s 50% share in the RRTM (Rolls-Royce-Turbomeca) joint-venture. The Adour engine program cooperation between Rolls-Royce and Turbomeca, which powers the Hawk and Jaguar aircraft, is unaffected by this transaction, as are the other helicopter engine programs that Rolls-Royce and Turbomeca manage independently. 

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