Rolls-Royce Snemca Joint Venture in UK Defense Ministry Contract
07/30/2012| 01:01am US/Eastern
LONDON--Rolls-Royce Holdings PLC (RR.LN), the power systems company, said Monday that it and Snecma, which is part of the engine maker Safran Group (>> SAFRAN), have signed a contract with the U.K. Ministry of Defence to undertake studies into the next generation of U.K. and French combat aircraft engines, through their 50:50 Rolls-Royce Snecma joint venture, established in 2001.
-Rolls-Royce and Snecma have also signed a collaboration agreement with BAE Systems PLC (>> BAE Systems plc) and Dassault Aviation (>> DASSAULT AVIATION) to work together to explore concepts and technologies as part of the Anglo French Future Combat Air Systems Demonstration Program Preparation Phase contract.
-Rolls-Royce shares at 1510 GMT flat at 875.5 pence valuing the company at GBP16.39 billion.
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