Kongsberg buying Rolls-Royce marine business

Rolls-Royce has agreed to sell its Commercial Marine business to Kongsberg for an enterprise value of £500 million (US$661 million).

This follows a review of the division’s operations in January. Commercial Marine, which has around 3,600 employees, had an operating loss last year of £70 million (US$92.6 million).

The sale includes propulsion, deck machinery, automation and control, a service network across more than 30 countries and ship design capability. To date the division has worked on around 1,000 ships of Rolls-Royce design to sectors including offshore.

Rolls-Royce’s Ship Intelligence activities, which develop technologies to enable remote and autonomous operation of commercial vessels, is also included.

Via a trading arrangement, Kongsberg will retain access to diesel and gas medium-engines from Bergen Engines, which remains part of Rolls-Royce Power Systems.

Source: Offshore Magazine