Rolls-royce sign taken down from factory site
IT COMES AFTER THE FAMOUS FIRM BEGINS SELLING OFF £2BN OF ASSETS
NEW signs have gone up at Hucknall’s Rolls-royce factory as part of ongoing preparations to transfer the site to its ITP Aero engine-making subsidiary.
The iconic Rolls-royce branding has been removed and as of Thursday, new signs relating to the Bilbao-based company have been put up.
It is currently covered by a tarpaulin.
Rolls-royce has extensive history in Nottinghamshire and the Midlands, with many experimental craft tested at the aerodrome in Hucknall in the past, including precursor technology which led to the development of the Harrier jumpjet.
ITP Aero is an arms-length company belonging to Rolls-royce which makes engines and turbines for aircraft. To reclaim some of its finances lost amid the coronavirus pandemic, Rolls-royce is now seeking to sell off ITP Aero for a sum close to £1.5bn, almost all of its £2bn target.
A spokeswoman for the company said: “As part of Rolls-royce’s detailed review of its global facilities footprint as a result of the drop in demand caused by the global pandemic; it was announced in 2020 that the company was proposing to increase the scope of ITP Aero.
“On December 3, 2020, the company announced a proposal to transfer the Hucknall facility and associated fabrications commodity into ITP Aero ownership.
“These actions enhance ITP Aero’s position as a global Tier 1 aerospace leader.
“In preparation for the Hucknall site to transfer into ITP Aero ownership, a number of activities are underway, including the re-branding of the facility.
“ITP Aero is currently a whollyowned corporate entity within the group and the largest supplier to Rolls-royce. The transfer of our people to ITP Aero UK has no impact on jobs at the site.”
Currently, bids are open for ITP Aero following some trouble, with Spanish aerospace company Aciturri Aeronautica showing its interest among others.