Rolls-Royce Group plc (ADR) Won $1.8bn Contract from Chinese Company – PINK: RYCEY

Its being reported today November 22nd that Rolls Royce has succeeded in winning a contract worth of $1.8 billion form Air China to supply and service 20 air craft engines. Rolls Royce also won a $1.2 billion contract from China Eastern Airline in start of this month. After the engine explosion in mid air of one of Rolls Royce production the company was got stuck in various safety concerns. This new order is a sign of regaining the confidence of the company internationally. With the effect of this deal Rolls Royce will supply engines for Airbus A350s and A330s. These engines will be delivered with the service of Chinese carrier who would take the A330 planes from 2013 to 2015 and the rest A350 planes from 2018 to 2020. According to the various engine problems, which arose in the last month, company declared that the problems have been identified in the engines and the cause was exterminated. Rolls-Royce Group plc is an integrated power systems company, operating in civil and defense aerospace, marine and energy markets. The Company serves customers in over 120 countries. Its gas turbine products are shipped to customers worldwide, by land, sea and air. It is a global provider of defense aero-engine products and services, with 18,000 engines in service for 160 customers in 103 countries. Its marine business has more than 2,000 customers and equipment installed on over 30,000 vessels worldwide, including those of 70 navies.
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