Rolls-Royce confirmed this week that it is negotiating with a shortlist of bidders for its International Combustion business, as the company unveiled the new corporate structure for its remaining Industrial Power Group.
The division was put up for sale in July 1996.
The restructuring will split the remainder of the IPG into five separate divisions, all reporting to group managing director Paul Heiden.
The existing Transmission & Distribution and Material Handling operations will continue unchanged. However, Industrial & Marine Power and Nuclear Engineering are being regrouped into Power Generation, Oil & Gas, and Naval Marine Power.
More than 40 jobs may be lost as a result of the changes. Heiden is taking only 10 of the 52 staff employed at the IPG’s Gosforth, Tyneside headquarters to a new, smaller central office located in Derby.