Business
Completion of sale of civil nuclear I&C business
Completion of sale of civil nuclear I&C business.
About this update from Rolls-royce Holdings Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 5721R\n Rolls-Royce Holdings plc\n 08 November 2021\n \n \n \n \n 08 November 2021\n \n \n \n ROLLS-ROYCE COMPLETES SALE\n \n \n OF CIVIL NUCLEAR INSTRUMENTATION & CONTROL BUSINESS\n \n \n Rolls-Royce announces the completion of the sale of our civil nuclear instrumentation & control (I&C) business to Framatome. The completion of the transaction, which was first announced on 7 December 2020, follows recent clearance from the relevant regulatory authorities.\n \n The proceeds received by Rolls-Royce contribute towards our target to generate at least £2bn from disposals, as announced last year, and will be used to help strengthen the Rolls-Royce balance sheet in support of the company's medium term ambition to return to an investment grade credit profile.\n \n The I&C business, which in 2020 reported revenues of £74m, includes all the Rolls-Royce activities and teams based in Grenoble (France), Prague (Czech Republic), Beijing and Shenzhen (China). No UK-based employees are impacted as this agreement does not include our UK civil nuclear business, or small modular reactor activities, which will continue contributing to the provision of low carbon power for the UK.\n \n For further information, please contact:\n \n \n \n \n Media \n \n Richard Wray\n Director of External Communications & Brand, Rolls-Royce plc\n \n Tel +44 (0) 7810 850055\n \n \n [email protected]\n \n \n \n \n \n Investors \n \n Isabel Green\n Head of Investor Relations, Rolls-Royce plc\n \n Tel +44 (0) 7880 160976\n \n \n [email protected]\n \n \n \n \n \n \n www.rolls-royce.com\n \n \n \n \n \n About Rolls-Royce Holdings plc\n \n 1. Rolls-Royce pioneers the power that matters to connect, power and protect society. We have pledged to achieve net zero greenhouse gas emissions in our operations by 2030 (excluding product testing) and joined the UN Race to Zero campaign in 2020, affirming our ambition to play a fundamental role in enabling the sectors in which we operate achieve net zero carbon by 2050.\n 2. Rolls-Royce has customers in more than 150 countries, comprising more than 400 airlines and leasing customers, 160 armed forces and navies, and more than 5,000 power and nuclear customers.\n \n 3. Annual underlyin...