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ROLLS-ROYCE AND HOWMET CORPORATION ANNOUNCE CREATION OF JOINT VENTURE

 GREENWICH, Conn., Jan. 5 /PRNewswire/ -- Rolls-Royce and Howmet Corporation have announced the creation of a joint venture company concentrating on the refurbishment of aero engine components.
 The new company, R-H Component Technologies, L.C., commenced operations on Jan. 1, 1994. It is located adjacent to Howmet's existing facilities in Claremore near Tulsa, Okla.
 The 50-50 joint venture will specialize in the refurbishment of turbine and compressor blades and vanes for the North American market. It will target untapped business potential with the aim of winning contracts in a new area for both Rolls-Royce and Howmet and provide operators with an additional source of refurbishment.
 Rolls-Royce plc is a highly diversified engineering company with approximately 50,000 employees, operating worldwide through two business groups, Aerospace and Industrial Power. It is a world leader in the design, development and manufacture of gas turbines for aero, industrial and marine applications. Other product fields include power generation, nuclear engineering and materials handling. Revenue for 1992 was 3.5 billion pounds sterling ($5.2 billion), of which aerospace contributed 2.1 billion pounds ($3.1 billion). Exports account for 70% of sales, The company order book at the 1992 year end stood at a record 6.7 billion pounds ($10 billion).
 Howmet Corporation is a world leader in the manufacture of precision investment castings, primarily for jet aircraft and industrial gas turbine engines. It also is an important supplier of superalloy metal, titanium ingot, ceramic products and precision tooling; provides component refurbishment, advanced coating, hot isostatic pressing and precision machining services; and conducts broad-scale research and development in materials, products and process technologies. Howmet and its affiliates have annual sales of over $800 million and operate some 30 manufacturing facilities in the United States, Canada, France, the United Kingdom and Japan. Howmet is a member of the worldwide Pechiney Group.
 -0- 1/5/94
 /CONTACT: Martin Johnson of Rolls-Royce plc, in the United Kingdom, 0332-248959; or Robert Stangarone of Rolls-Royce Inc., 703-834-1700; or Ilse Minkenberg of Howmet Corporation, 203-625-8836/


CO: Howmet Corporation; Rolls-Royce plc ST: Connecticut IN: AUT SU: JVN

SH-MP -- NY012 -- 9207 01/05/94 09:01 EST
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Publication:PR Newswire
Date:Jan 5, 1994
Words:354
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