Rolls-Royce Limited
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| Rolls-Royce | |
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| Industry | Aerospace and motor vehicle design and manufacturing |
| Fate |
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| Predecessor | partnership of Rolls and Royce |
| Successor | Rolls-Royce Holdings plc |
| Founded |
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| Founder | |
| Defunct | Public float: 1987 |
| Headquarters | Derby, England, United Kingdom |
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| Website | www |
Rolls-Royce Limited owned a British luxury-car and aero engine manufacturing business founded in 1904 by Charles Stewart Rolls and Sir Frederick Henry Royce. Rolls-Royce Limited was incorporated on 15 March 1906 as a vehicle for their ownership of their Rolls-Royce business. Their business quickly developed a reputation for superior engineering quality, "best car in the world", building on F H Royce's existing standing. Rolls-Royce became a leading manufacturer of piston aero-engines after it was brought into building them by the First World War.
From 1940, Rolls-Royce participated in the development of the jet engine and built for itself, and retains, a pre-eminent position in aero engine development and manufacture for use in defence and civil aircraft.
In the late 1960s, Rolls-Royce Limited became hopelessly crippled by its mismanagement of development of its advanced RB211 jet engine and the consequent cost over-runs. In 1971 their financial collapse was dealt with by sale, at a price which took some years to negotiate, of the entire business to a new government-owned company, Rolls-Royce (1971) Limited. Insolvent Rolls-Royce Limited was put into liquidation. Everything that could be sold off was sold off but more than 45 years later there are still assets remaining to be sold.
Rolls-Royce (1971) Limited continued to trade and realise the surplus assets bought from the former company. BAC was sold almost immediately, the profitable but now financially insignificant car division transferred in 1973 to a new subsidiary, Rolls-Royce Motors Holdings Limited, was sold to Vickers in 1980.
In 1977 Rolls-Royce (1971) Limited, given the necessary consent, was re-named Rolls-Royce Limited. It remained nationalised until 1987 when, re-named Rolls-Royce plc, the government sold its shares to the public. Today it owns and operates Rolls-Royce's principal business though it is no longer listed on the stock exchange. Instead it has been a subsidiary of a listed holding company currently Rolls-Royce Holdings plc since 2003.
A marketing survey in 1987 showed there was only one brand name more widely known than Rolls-Royce. It was Coca-Cola.
In 1884 Henry Royce started an electrical and mechanical business. He made his first car, a two-cylinder Royce 10, in his Manchester factory in 1904. Henry Royce was introduced to Charles Rolls at the Midland Hotel, Manchester on 4 May of that year. Rolls was proprietor of an early motor car dealership, C.S.Rolls & Co. in Fulham.
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Wikipedia