Rolls-Royce to acquire 53.1% stake in ITP for €720m.

Rolls-Royce, a British multinational engineering company has agreed to acquire 53.1% shareholding in Industria de Turbo Propulsores, an aircraft engine and components company from Sener, a private engineering and technology group for €720m ($795m). The acquisition strengthens Rolls-Royce’s position on its Civil Aerospace large engine growth programs by capturing significant additional value from its long-term aftermarket revenues, including the high volume Trent 1000 and Trent XWB engines, where ITP has played a key role as a risk and revenue sharing partner. It also enhances the group’s manufacturing and services capabilities and adds value to the Defence Aerospace business, particularly on the TP400 and EJ200 programs. "We welcome the opportunity to acquire an outstanding stake in ITP. ITP has been a trusted partner for Rolls-Royce over many years as well as working for other engine manufacturers. This investment will add to our aerospace capability, with excellent facilities, services, and products, to generate additional opportunities for profitable growth. We look forward to forging a closer and more productive future together, and to welcoming ITP’s employees into Rolls-Royce. I would like to thank SENER for their close relationship over three decades as we have built this exceptional business," Warren East, Rolls-Royce CEO.