April 9, 2018 / 6:26 AM / 6 months ago

Rolls-Royce sells parts maker L'Orange to Woodward for 700 mln euros

LONDON, April 9 (Reuters) - Britain’s Rolls-Royce said it had agreed to sell its German-based diesel parts maker L’Orange to U.S.-based engineering company Woodward Inc for 700 million euros, as part of its plan to simplify its business.

Rolls-Royce, which makes engines for the aeroplanes, ships, trains and heavy-duty trucks, said that L’Orange would continue as a key supplier to its power systems business under a 15-year agreement. (Reporting by Sarah Young; editing by Kate Holton)

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