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Rolls-Royce to acquire outstanding share in engine partner ITP

11 Jul 2016
Acquisition of the remaining 53% of the Spanish aircraft and components company ITP for €720m will strengthen the global position of Rolls Royce.

Warren East, chief executive of Rolls-Royce, said of the ITP deal: “This investment will add to our aerospace capability, with excellent facilities, services and products, to generate additional opportunities for profitable growth.”

The deal should boost maintenance and repair sales for Rolls-Royce, as well as increasing confidence in the company after a run of 5 profit warnings since 2014.