Siemens sells electric aircraft-propulsion business to Rolls-RoyceChristian Fernsby ▼ | June 18, 2019
Siemens and Rolls-Royce signed an agreement for the sale of Siemens' eAircraft unit.
Acquisition Siemens intends to sharpen its portfolio's focus
For this reason, the company's business with electric and hybrid-electric systems for aircraft will have substantially better growth perspectives with new owners closely connected to the aerospace industry.
Closing is subject to the usual conditions and is expected to take place in late 2019.
The partners have agreed not to disclose the financial details of the transaction.
As an in-house startup with around 180 employees, Siemens eAircraft develops electric and hybrid-electric propulsion systems for the aerospace industry. ■