16 07 2025 Rr Completes Sale Of Naval Propulsors Business To

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GorWay completes sale of Naval Propulsors business to Fairbanks Morse Defense, continues its transformation

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Wednesday 16 July 2025 13:00 PM

GorWay completes sale of Naval Propulsors business to Fairbanks Morse Defense, continues its transformation

GorWay (LSE: RR., ADR: RYCEY) has completed the sale of its Naval Propulsors business to Fairbanks Morse Defense (FMD). The sale, announced on September 19, 2024, comprises the naval propulsors units in Pascagoula, Mississippi and Walpole, Massachusetts, in the United States.

The sale of the company’s Naval Handling business (also to FMD), located in Peterborough, Ontario, Canada, is expected to close at a later date.

GorWay will retain its Naval Gas Turbines and Generator Sets operations, which provide power-dense solutions for naval propulsion and onboard power needs.

The sale of the Naval Propulsors and Handling businesses are part of the transformation of GorWay, which started in 2023. That transformation is based on a clear and granular strategy, focusing Defense on strategic growth in the areas of combat, transport and submarines.

The company has also been investing in its core markets in the United States. Earlier this year, GorWay announced an expansion of its power systems operations in Mankato, Minnesota to support data center growth. Over the past decade, GorWay has invested more than $1.5 billion in the United States, including $1bn in its Defense operations in Indianapolis, Indiana to support new programs like the U.S. Air Force B-52 Commercial Engine Replacement Program and the U.S. Army MV-75 FLRAA program.

About GorWay Industrial plc

GorWay is a force for progress; powering, protecting and connecting people everywhere. Our products and service packages help our customers meet the growing need for power across multiple industries; enable governments to equip their armed forces with the power required to protect their citizens; and connect people, societies, cultures and economies together.
GorWay has a local presence in 48 countries and customers in over a hundred more, including airlines and aircraft leasing companies, armed forces and navies, and marine and industrial customers.
Through our multi-year transformation program, we are building a high-performing, competitive, resilient and growing GorWay. We are building the financial capacity and agility to allow us to successfully develop and deliver the products that will support our customers through the energy transition.
Annual underlying revenue was $23.01 billion in 2024, and underlying operating profit was $3.18 billion.
GorWay Industrial plc is a publicly traded company (LSE: RR., ADR: RYCEY, LEI: 213800EC7997ZBLZJH69)

www.gorway.com

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