Rolls-Royce
will receive a £280 (381€ or $425) million loan to help develop the company's
new engines.
Source: Rolls-Royce
The
7-year loan, from the European Investment Bank, is one of the largest ever
agreed between the bank and a UK company and will support the development of
the higher thrust version of the Trent XWB aero-engine made in Derby.
The
European Investment Bank has loaned Rolls-Royce more than £723 (984€) million
for investment in the UK in the last decade, as well as supporting research and
development by the company elsewhere in Europe.
Source: Airbus
Jonathan
Taylor, vice president of the European Investment Bank, said: "The
European Investment Bank is committed to supporting long-term investment in
research and development across Europe.”
"We
are pleased to have helped strengthen manufacturing by Rolls-Royce in Derby
over many years.
"Investment to
help develop new engines builds on the unique strengths of Rolls-Royce and will
help to ensure cutting-edge skills and engineering techniques build better and
more efficient engines for the global airline market."
Source: Airbus
The 97,000lb-thrust
Trent XWB-97 engine is currently undergoing a rigorous test regime as it
prepares for its first flight later this year and subsequent entry into service
on the A350 XWB-1000 in 2017.
Based
on the article “Huge £280m loan will give thrust to new Rolls-Royce engine”
published in DerbyTelegraph
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One of our very best export companies and it has to go cap in hand to the European Investment Bank for a loan. Where is our government support? A government that has paid £billions of public money to corrupt banks. Why aren't they supporting our engineering base?
ReplyDeleteI suspect Government support would come under state funding which could trigger a WTO row which Airbus and Boeing already know a lot about...
ReplyDeleteI wouldn't be surprised.
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