Member Article

Profits at Rolls Royce Marine division hit by product quality problems

Profits at Rolls Royce’s Marine division, which operates a facility on Tyneside, are likely to fall 10% this year, due to one off costs, the firm said.

Some £30 million of costs associated with rectifying a product quality issue have impacted the profitability of division this the year, Rolls Royce said in a trading update.

The firm also announced that Tata Group-owned Daimler would exercise a put option for their 50% equity interest in the joint venture Rolls-Royce Power Systems (RRPS) business, part of Rolls Royce’s Marine & Industrial Power Systems.

Rolls Royce’s Marine division operates a training centre on Newcastle’s Scotswood Road.

This was posted in Bdaily's Members' News section by Tom Keighley .