Derby’s Rolls-Royce has confirmed it has been approached by a Spanish company interested in buying one of its subsidiaries which has bases across the Midlands.
The engineering giant, which has its civil aerospace and defence divisions in Derby, has said it has received an approach from Indra regarding ITP Aero.
Headquartered in Spain, ITP Aero is a Rolls-Royce-owned aero engine and gas turbine manufacturer, with four UK bases - three in the Midlands in Leicester, Lincoln and Rugby, as well as a site in York.
Rolls-Royce said that Indra, which is listed on the Bolsa de Madrid, had sent a preliminary and conditional indication of interest regarding ITP Aero.
The firm specialises in the design, research and development, manufacturing and casting, assembly and testing of aeronautical modules and engines.
It also provides services for a wide range of engines for regional airlines, business aviation, helicopters, industrial and defence applications.
In a statement, Rolls-Royce said: “Rolls-Royce confirms that it has received a preliminary and conditional indication of interest from Indra to acquire a majority stake in ITP Aero.
“This indication of interest is subject to a number of conditions. There is no certainty that this will result in a transaction involving ITP Aero.
“ITP Aero is a key partner for Rolls-Royce - and Rolls-Royce intends to retain a long-term relationship with the business across its civil aerospace and defence programmes. Any further announcement will be made as appropriate.”
