Rolls-Royce Ltd

Rolls-Royce Limited
Rolls-Royce (1971) Limited
Rolls-Royce Limited
Rolls-Royce plc

Trading name	Rolls-Royce
Former type	1906 private limited company 1907 public listed company which entered voluntary liquidation in 1971 1971 fresh new government-owned corporation known as:Rolls-Royce (1971) Limited then; 1977 re-named Rolls-Royce Limited then; 1986 re-named Rolls-Royce plc
Industry	Aerospace and motor vehicle design and manufacturing
Fate	business (not 1906 company) bought by the British government in 1971 (too big to fail). British taxpayer-owned until: Motors sold to Vickers in 1980; Aerospace sold to public as Rolls-Royce plc in 1987
Predecessor	partnership of Rolls and Royce
Successor	Rolls-Royce Holdings plc
Founded	Manchester, England 1904 partnership 1906 private company March 15, 1906 (1906-03-15) company 2: February 23, 1971 (1971-02-23)
Founder	Charles Rolls Henry Royce
Defunct	Public float: 1987; 30 years ago (1987)
Headquarters	Derby, England, United Kingdom
Key people	Claude Johnson Ernest Hives
Products	Automobiles Civil and military aero engines Marine propulsion systems Power generation equipment
Subsidiaries	significant subsidiaries 1966 Bristol Aircraft Holdings —Bristol Aeroplane Company —Bristol Siddeley Engines 1939 H J Mulliner Park Ward Rolls-Royce Inc Rolls-Royce Motor Cars Limited (Canada) Rolls-Royce Motors of Australia Bentley Motors (1931) Limited 1973 Rolls-Royce Motors Holdings
Website	www.rolls-royce.com

Rolls-Royce Limited owned a British luxury-car and aero engine manufacturing business founded in 1904 by Charles Stewart Rolls and 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 46 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 renamed Rolls-Royce Limited. It remained nationalised until 1987 when, renamed 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