ITP renews its turbines agreement with Rolls-Royce and extends it to its new generation engines
ITP and Rolls-Royce have signed this morning a strategic collaboration agreement whereby ITP becomes the supplier of its low-pressure turbines - conventional turbines - and of the new high speed turbines for its new generation engines - Ultrafan engines-.
Ultrafan engines are the future generation of engines on which Rolls-Royce is working at present, and are expected to be in service from 2025.
The agreement implies greater investment in R&D for the acquisition of technology. Altogether, in the next five years, ITP envisages a total investment of more than EUR 75 million.
The agreement has been possible thanks to the confidence that Rolls-Royce has in ITP, acquired through the design and development of the low pressure turbines for the Trent family engines, powering the Airbus A330, A340, A380, A350 and the Boeing 787, in which ITP participates since 1998 as a risk and revenue sharing partner. With this agreement, ITP will maintain its access to market through Rolls-Royce.
ITP’s shareholding does not change, and the shareholders’ participation is maintained: SENER (53,125%) and Rolls Royce (46,875%). The agreement announced today can be considered as a new milestone in the long term strategic collaboration, 26 years after the creation of ITP.