Saturday, June 1, 2013
Safran Acquires Rolls-Royce Share in RTM322 Engine Program
Safran, parent company of Turbomeca, has reached an agreement to acquire Rolls-Royce’s 50 percent share in the joint RTM322 helicopter engine program for $380 million. The transaction is subject to regulatory approvals, and would give Safran the revenue related to the Rolls-Royce share of the RTM322 program, which amounts to approximately $110 million per year.
Under the agreement, Turbomeca will assume control of the RTM322 program. Supporting the RTM322 would allow Turbomeca to enter the more powerful 3,000-shp helicopter engine segment, where it currently has no offerings. The company is looking to supply about 3,500 engines to existing military and civilian rotorcraft in the range from eight to 13 tons, as operators continue a trend toward requiring higher engine power. Safran expects the acquisition to close by the end of the year.