|
The two companies will establish a joint venture
company, in which each will hold an equal share,
to develop new engines for the next generation
of aircraft that will replace the existing mid-size
fleet. The new venture will draw on the most advanced
technology from two world-class companies to drive
enhanced performance for this fast growing segment
in which worldwide demand for around 20,000 new
aircraft (or nearly 45,000 engines) is predicted
over the next 20 years.
This new joint venture will focus on high bypass
ratio geared turbofan™ technology. In addition,
the venture will collaborate on future studies
for next generation propulsion systems, including
advanced geared engines, open rotor technology
and other advanced configurations.
The new collaboration brings together complementary
technological resources and is designed to offer
the best, most competitive response to customer
demand for the next generation powerplant in the
mid-size segment. The collaboration could bring
about significant value for customers as both
parties are able to benefit from each other’s
strengths.
The new joint venture between Pratt & Whitney
and Rolls-Royce also benefits from the success
of the V2500 and the PurePower® engine in
establishing a broad customer base. It builds
on the long-standing and successful partnership
between Pratt & Whitney and Rolls-Royce in
the mid-size segment.
The Japanese Aero Engine Corporation (JAEC) and
MTU Aero Engines (MTU), partners of IAE and the
PurePower® PW1100G-JM (Geared Turbofan™)
programme for the Airbus A320 New Engine Option
(neo), also intend to join the new collaboration.
Rolls-Royce and Pratt
& Whitney also restructure IAE participation
As well as establishing the new partnership,
Rolls-Royce and Pratt & Whitney will restructure
their participation in IAE, which produces the
V2500 engine for the A320 family of aircraft.
Under the terms of the agreement Rolls-Royce will
sell its equity and programme shares in IAE to
Pratt & Whitney for $1.5 billion and in addition
receive an agreed payment for each hour flown
by the current installed fleet of V2500-powered
aircraft for 15 years from completion of the transaction.
Under the continuing leadership of Pratt &
Whitney, JAEC, and MTU, IAE will continue to deliver
the same high-quality product and customer support
without interruption. Rolls-Royce remains committed
to IAE and its customers and will continue to
be responsible for the manufacture of high-pressure
compressors, fan blades and discs as well as the
provision of engineering support and final assembly
of 50 per cent of V2500 engines.
|
