Siemens and Rolls-Royce have signed an agreement for the sale of Siemens’ eAircraft unit. Through its Vision 2020+ company strategy, Siemens intends to sharpen its portfolio’s focus.
Siemens said the company’s business with electric and hybrid-electric systems for aircraft will have substantially better growth perspectives with new owners closely connected to the aerospace industry.
Closing is subject to the usual conditions and is expected to take place in late 2019. The partners have agreed not to disclose the financial details of the transaction.