Royal Bank of Scotland Acquires Vickers Turbine Components

The Royal Bank of Scotland has acquired the bulk of Vickers Turbine Components from Rolls-Royce in a deal worth £74 million. The businesses being sold were part of Rolls-Royce's acquisition of the Vickers engineering group in 1999 and specialize in products for the automotive, aerospace, and industrial gas turbine markets. The deal involves several companies based in the UK and US, employing around 1220 workers, and is expected to enable Rolls-Royce to focus on its core business.

Key Takeaways:

• The Royal Bank of Scotland has acquired the bulk of Vickers Turbine Components from Rolls-Royce for £74 million, with the deal involving several companies based in the UK and US.
• The businesses being sold were part of Rolls-Royce's acquisition of the Vickers engineering group in 1999 and specialize in products for the automotive, aerospace, and industrial gas turbine markets.
• The deal involves a total of 7 companies, with 5 based in the UK and 2 based in the US, employing around 1220 workers.
• The companies being sold include Vickers Precision Machining, Vickers Aerospace Components, Vickers Airmotive, Ross & Catherall, and Trucast.
• Rolls-Royce is retaining two Turbine Components businesses, Ross Catherall Ceramics and Vickers Pressings, with a combined workforce of 405 employees.

Statistics:

• The deal is worth £74 million.
• The companies being sold employ a total of 1220 workers.
• The companies being sold are based in the UK (5) and US (2).
• The workforce of the companies being sold includes 300 staff in Crewe, 200 staff in Shrewsbury, 45 staff in Shrewsbury, 160 staff in Killamarsh, 310 staff on the Isle of Wight, and 697 staff in the US.

Sources:

• "The Royal Bank of Scotland has clinched a pounds 74million deal to buy the bulk of Vickers Turbine Components from Rolls-Royce."
• Paul Heiden, finance director of Rolls-Royce.