PARIS, Sept. 3 (UPI) -- The Safran Group of France has completed acquisition of Rolls-Royce's 50 percent share in the RTM322 engine program.
The cash transaction for Rolls-Royce's share in joint venture company Rolls-Royce Turbomeca was valued at $387.2 million.
"Henceforth, Turbomeca ... will assume global responsibility for the design, production, product support and services (spares and MRO services - maintenance, repair, overhaul) for the RTM322 engine, which powers the Apache, EH101 and NH90 helicopters," said Safran, Turbomeca's parent organization. "Rolls-Royce will provide full support during a transition phase enabling progressive transfer of all their activities to Turbomeca under this program.
"The RTM322 is a priority program for Turbomeca and the company is committed to the continued technical and commercial development of this program to improve its global performance, as well as to investments to serve in the long term, the strategic market segment of the most powerful helicopter turbines."
Rolls-Royce said the transition of the technologies would be "multi-year" in length.
"During this transfer period, Rolls-Royce will provide full assistance to Turbomeca to ensure all RTM322 customers continue to receive effective support," it said.
