Rolls-Royce sets up JV to develop train transmission systems

4th Jul 2014 08:34

Rolls-Royce announced on Friday that it has entered into a long-term joint venture (JV) with engine group Hispano-Suiza (Safran) to develop accessory drive train transmission systems.The two companies have signed a memorandum of understanding to establish the 50:50 JV, which addresses the entire product life-cycle of Rolls-Royce civil aeroengine applications. The JV will be headquartered in France but also have operations in the UK and Germany. "The JV will call on the complementary resources and expertise of its two parent companies," Rolls-Royce said in a brief statement on Friday.Rolls-Royce shares were trading broadly flat at 1,063p by 08:33.BC