The world’s largest aircraft carrier USS Gerald R. Ford (CVN 78) transits the Mediterranean Sea, Aug. 21, 2023. Gerald R. Ford is the U.S. Navy’s newest and most advanced aircraft carrier, representing a generational leap in the U.S. Navy’s capacity to project power on a global scale. The Gerald R. Ford Carrier Strike Group is on a scheduled deployment in the U.S. Naval Forces Europe area of operations, employed by U.S. Sixth Fleet to defend U.S., allied, and partner interests. (U.S. Navy photo by Mass Communication Specialist 2nd Class Jackson Adkins)
WASHINGTON — Rolls-Royce announced today it has reached an agreement to sell its Naval Propulsors and Handling business to Fairbanks Morse Defense for an undisclosed amount of money.
The sale will see Rolls facilities in Pascagoula, Miss., and Walpole, Mass., as well as its Canadian location in Peterborough, Ontario, transfer over to Fairbanks Morse.
According to the company announcement, the divested business “supports a range of specialist propellers and waterjets for naval applications, as well as specialized handling systems that enable the deployment and recovery of manned and unmanned craft, and other cargo, from naval vessels.”
Rolls says products rolled out of these facilities are on a number of US Navy vessels, including “Frigates, Destroyers, Combatants, Submarines, Aircraft Carriers, Amphibious ships, Fleet Support and Auxiliary Ships, as well as U.S. Coast Guard Cutters.”
Fairbanks Morse, headquartered in Wisconsin, is focused primarily on providing components, including engines, for naval vessels, meaning the Rolls business unit should fit snugly into its portfolio.
“When you look at the 150-year history of Fairbanks Morse Defense, you will find a handful of distinctive moments that completely transformed this company. We believe the acquisition of Rolls-Royce naval propulsors and handling businesses will become one of those moments,” George Whittier, CEO of Fairbanks Morse Defense, said in a statement.
“Rolls-Royce Naval Propulsors & Handling is an industry leader and trusted supplier to navies around the world. We are pleased to collaborate with Fairbanks Morse Defense, who recognizes the value of this business and the outstanding opportunities for its strong future.” added Adam Riddle, chairman and CEO of Rolls-Royce North America.
A timeline for when the deal will be closed was not disclosed by either company.
