olls-Royce has agreed to sell its Bergen Engines medium speed liquid fuel and gas engines business for €63m to UK-based Langley Holdings. Langley is funding the deal, together with working capital requirements for the Bergen business going forward, from existing cash reserves. The deal includes the Bergen Engines factory, service workshop and foundry in Norway, the company's engine and power plant design capability - plus a global service network spanning seven countries. Bergen Engines employs more than 900 people worldwide including 650 in the main factory in Hordvikneset. In 2020, the business generated revenues of approximately €200m.
Jon Erik Røv, Managing Director, Bergen Engines, told WIP:
“This deal marks the beginning of a new era for Bergen Engines. Through the investments made by Rolls-Royce in our business, together with our dedicated and skilled workforce, and worldwide reputation for quality, I’m confident that Bergen Engines will prosper with Langley Holdings as our new owners.”