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Rolls-Royce confirms L'Orange arm could be up for sale
Rolls-Royce has confirmed that it is mulling a potential sale of its L'Orange fuel-injection business, after reports the engine maker was looking for around $700m (£510m).
The FTSE 100 company said on Monday that it was "reviewing its strategic options" for the Stuttgart-based arm, but assured that irrespective of the outcome of the review its plans to maintain close ties to L'Orange, either as an owner or as a key customer.
L'Orange is a developer of electronically-controlled, high-pressure injection technology for large diesel engines in the off-highway segment, enabling a combination of low-pollution emissions with low fuel consumption.
Rolls-Royce added that its review of L'Orange "has no impact" on the remainder of the power systems business and made the point of saying that any decision about the future of the subsidiary will be subject to the approval of its supervisory board.