Rolls-Royce will consider selling its lossmaking commercial marine business as chief Warren East launches a new round of cost-cutting in a bid to accelerate his of cost-cutting in a bid to accelerate his shake-up of the blue-chip engineering business. Mr East is said to be looking at the strategic options for the marine business as […]
The UK’s boat and yacht industry has seen revenues surge to their highest level since the financial crisis after the weaker pound helped drive up sales. Sales rose by 3.4% to £3.1bn in the year to April 2017, according to a report by lobby group British Marine. It said that the depreciation of the […]
BAE Systems has been awarded a £457,000 grant from The Solent Local Enterprise Partnership to design and deliver the UK’s first dedicated autonomous systems testing service. Based around Portsmouth, Southampton and the South East of the Isle of Wight, BAE Systems will be working with partners including ASV Global, Blue Bear Systems Research, Marine Electronic […]
Two Russian investors have bought the motor yacht builder Fairline out of administration for £4.5m in a deal that will keep production in the UK. Officially, Fairline was sold to Fairline Acquisitions, but people familiar with the sale said the company is controlled by Alexander Volov and Igor Glyanenko, based in the UK. They plan […]
