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 by Staff Writers Moscow (Sputnik) Jul 06, 2018
Earlier in April, Russia's United Aircraft Corporation (UAC) also confirmed that it would not be participating in the airshow. Russia's Roscosmos state space corporation will not participate in the Farnborough Airshow set to take place in the United Kingdom in mid-July, head of the corporation's press service Vladimir Ustimenko told Sputnik on Thursday. "The Roscosmos corporation will not take part in the exhibition," Ustimenko said. However, he did not explain the reasoning behind the corporation's decision. The Farnborough International Airshow has been held annually since 1948. In 2016 and 2017 the Russian companies presented only civilian aircraft at the airshow, due to restrictions imposed by the organizers. In 2014, the Russian delegation did not take part in the event because of visa problems. The 2018 Farnborough Airshow in the United Kingdom will be held from July 16 to July 22. Source: Sputnik News
Rolls-Royce sells commercial marine unit London (AFP) July 6, 2018 British engine maker Rolls-Royce announced Friday it has agreed to sell its loss-making commercial marine business to Norwegian industrial group Kongsberg for 500 million pounds. The deal, worth $661 million, is part of a massive overhaul led by chief executive Warren East, Rolls-Royce said in a statement. The news comes three weeks after the London-listed company launched plans to axe 4,600 mainly British management roles by 2020 to further slash costs. Rolls is implementing a sweeping restructur ... read more
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