London: Rolls-Royce has provided further details about the impending relocation of the Marine division's global headquarters to Singapore from London. Speaking at a media lunch in the UK, Marine division president John Paterson explained that the move would 'underscore the global reach of R-R Marine, which will be further enhanced by headquartering in Singapore.' But he stressed: 'We are not moving our business to Asia.'
The Marine division employs 8,000 worldwide with main manufacturing in UK, Scandinavia, North America and North East Asia plus sales and service offices in 34 countries, Paterson added.
Last year R-R established a global head office for its marine services operation in Singapore. 'We are positioning ourselves for the future' said Paterson who is among six key executives relocating next month. 'The move will enable us to work closely with key customers and the supply chain in the region as we continue to develop our business.'
On the merchant shipping side, - which includes cruise, passenger, cargo, tankers, tugs and workboats - the company targets provision of ship propulsion, engines, deck machinery, automation and control and ship design.'R-R will continue to partner with yards in emerging markets, especially in Asia,' he said.
R-R Marine generated underlying revenue of £2.2bn in 2008 in its four primary markets of offshore, merchant marine, submarine and naval. Underlying profit before financing was £183m - an increase of 62% compared to 2007 when £113m was achieved. [09/02/09]
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