Rolls-Royce just signed a deal with the British Army
GettyPrince Harry smiles while looking out of a Fuchs armoured vehicle during his visit to RAF Honington on July 14, 2010 in Suffolk, eastern England.Rolls-Royce just revealed that it will receive €80 million (£57 million, $87 million) to supply the British Army with engines that will power its new SCOUT Specialist Vehicle (SV).
The London-listed aerospace and defence giant company said in a statement that it will deliver 589 MTU Series 199 diesel engines from 2016 until 2022. This will be the first time that MTU engines will be used in British Army platforms.
"We are delighted that our MTU engine has been trusted for this important project," said Dr Ulrich Dohle, CEO at Rolls-Royce Power Systems. "This order once again proves that when it comes to performance and reliability, the Series 199 engine is benchmark in its power range."
The engines have a power output of 600 kilowatts and are the most powerful engines in the Rolls-Royce series. The model is already used in the Austrian army's ULAN and Spain's Pizarro vehicles.
The contract may seem small compared to the massive £5.9 billion ($9.2 billion) deal it sealed with Dubai's Emirates airline last month, which was to supply engines for 50 A380 aircraft, but it shows that the company is back on track and winning contracts after a tumultuous year.
In February, Rolls-Royce CEO John Rishton said 2014 was a "mixed year" after the stock price drop by 23%. Underlying revenue declined for the first time in 10 years and the group went under a major restructuring.
Then in April this year, Rishton announced that he would retire as CEO on July 2 this year and will be succeeded by Warren East.