Rolls-Royce has in recent years suffered massive losses on its engine factory Bergen Engines in Norway, reports Norwegian offshore media Sysla, citing newspaper Bergens Tidende.
Bergen Engines, which produces diesel and gas engines, has for the past three years booked combined losses totaling NOK 756 million (USD 94.2 million) after taxes. Last year alone, the deficit came to NOK 316 million, while sales income has plunged 44 percent in the past five years. And 2017 has so far also not been a good year for the company, which has implemented large-scale cost reduction measures, writes Sysla.
"We have yet to see any improvement in the offshore market, and the numbers for this year so far are on par with the same period last year," communications director Helge Skaar tells Bergens Tidende.
The Rolls-Royce subsidiary was originally named Bergen Mekaniske Verksted (BMV) and was established all the way back in 1855. The factory began to manufacture diesel engines in 1946 and has – according to Bergen Engine – since then sold more than 7,000 engines, of which 4,000 remain in use today.
English Edit: Daniel Logan Berg-Munch