Rolls-Royce in materials joint venture with GKN

LONDON, May 28 (Reuters) - British engine maker Rolls-Royce Group Plc (RR.L) said on Wednesday it and British engineer GKN Plc (GKN.L) had formed a joint venture to research and develop the use of composite materials in aero engine fan blades.

Rolls-Royce will fund and own 51 per cent of the project, into which 11 million pounds ($22 million) will be invested.

"Composite technology research that this organisation will undertake is aimed at delivering light-weight and low-cost fan blades for engines for the next generation of airframe applications," Rolls-Royce said in a statement. (Reporting by Dan Lalor; Editing by Paul Bolding)