Rolls-Royce has sold its Norwegian maritime engine-making arm Bergen Engines to machinery industry company Langley Holdings in a £53 million deal.
The completion of the sale, first announced in August 2021, marks a significant step towards Rolls-Royce's target to reach at least £2 billion from asset sales. 2020 saw the company handed a £4 billion loss after it was hit hard by the drop of the global aviation industry amid the pandemic. Last month, Rolls-Royce said in an update that it is “firmly on course” to complete its disposals programme, with sales already totalling approximately £2 billion.
Bergen Engines employs over 900 people globally and generated approximately £168 million in revenues last year. The new owner of the company, Langley, is headquartered in the UK and employs around 4,600 people. The company’s main operations are in Germany, France, Italy, and the UK, though it also has a substantial presence in the United States. Langley plans to run Bergen as a standalone business.
Bergen’s sale follows an earlier deal with Russian TMH Group which was blocked by the Norwegian government in March 2021.
