The Oceania Times

Top Menu

  • About us
  • Contact Us
  • Cookie Policy
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions

Main Menu

  • Australian Economy
  • Brokers
  • Commodities
  • Currencies
  • Financial Market
  • Gold and Precious Metals
  • Investment
  • Stock Shares
  • About us
  • Contact Us
  • Cookie Policy
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions

logo

The Oceania Times

  • Australian Economy
  • Brokers
  • Commodities
  • Currencies
  • Financial Market
  • Gold and Precious Metals
  • Investment
  • Stock Shares
  • Why Pimco says ‘breakage’ is intended by central banks

  • Jim Chalmers must get more ambitious

  • Top brokers name 3 ASX shares to buy today 22 March 2023

  • How to Buy NAB Shares – Forbes Advisor Australia

  • How To Invest In FinTech In 2023

Investment
Home›Investment›Rolls-Royce makes major investment in Pascagoula facility | Mississippi Politics and News

Rolls-Royce makes major investment in Pascagoula facility | Mississippi Politics and News

By Megan
October 6, 2022
25
0
Share:

Rolls-Royce is a global leader in propulsion equipment, manufacturing controllable-pitch propeller systems, fixed-pitch propellers, and water jets at its Pascagoula site.

Rolls-Royce has completed a major investment in its Pascagoula, Mississippi site that will provide increased capabilities and capacity to support U.S. Navy programs.

According to their release, the new 26,000 square feet facility, with foundry and machining equipment provided by a U.S. Department of Defense DPA Title III grant, will increase the company’s ability to manufacture propellers and propulsor components for naval platforms.

“We’re excited to complete a second major U.S. investment in our naval capabilities since 2020, with the opening of this new facility in Pascagoula, Mississippi,” Dan Rediger, Rolls-Royce Head of Naval Operations, Defense said. “Rolls-Royce is proud to play a vital role in the shipbuilding supply chain and we remain committed to supporting the growing needs of the U.S. Navy with world-class, American-made products and services.”

Some of the first work to be delivered from the new facility will be fixed-pitch propellers for the U.S. Navy’s Constellation-class (FFG-62) guided missile frigate program.

Last year, Rolls-Royce reached agreement with Fincantieri Marinette Marine to design and manufacture up to 40 propellers for the program.

Rolls-Royce is a global leader in propulsion equipment, manufacturing controllable-pitch propeller systems, fixed-pitch propellers, and water jets at its Pascagoula site.

The company is the sole supplier of shock-rated propeller systems, which have demonstrated extraordinary levels of reliability and robustness in service. Rolls-Royce propulsion equipment can be found on more than 95% of the U.S. Navy Surface Warfare fleet.

“Rolls-Royce’s investment in Mississippi won’t just help to propel the world’s greatest naval fleet – it will also help to further propel our state’s growing economy,” Governor Tate Reeves said. “Whether it’s over land, in the air, or at sea, Mighty Mississippi is helping our military defend freedom around the globe. I’m grateful for Rolls-Royce’s commitment to our state and look forward to seeing the new facility’s positive impact on Pascagoula and our Gulf Coast.”

Rolls-Royce’s investment in Pascagoula manufacturing won’t just help propel the world’s greatest naval fleet – it’ll help propel our state’s growing economy.

Whether in the air, over land, or at sea, Mighty Mississippi is helping our military defend freedom around the globe! pic.twitter.com/eKv6bwnHfa

— Governor Tate Reeves (@tatereeves) October 6, 2022

Additional support for the project was provided by Jackson County, the state of Mississippi and others to include land, roadway and other infrastructure improvements, and additional workforce development assistance.

The investment is also expected to have a positive impact on the region, bringing new business to the local economy and new high-tech manufacturing jobs to the Rolls-Royce Pascagoula site.

“Jackson County, Mississippi values its long-standing partnership with Rolls Royce Naval Marine. This project is the result of years of collaboration between the community and RRNM and is the culmination of our shared vision of the company’s ever-expanding presence in our community,” said George Freeland, Executive Director of Jackson County Economic Development Foundation.

Source link

Previous Article

Tesla (TSLA) has been upgraded to investment grade ...

Next Article

Urstadt Biddle Is Buying Back Shares At ...

0
Shares
  • 0
  • +
  • 0
  • 0
  • 0
  • 0

Megan

Related articles More from author

  • Investment

    FBI Agent Says Crypto Investment Scams on LinkedIn ‘Significant Threat’ to Consumers: Report

    June 19, 2022
    By Megan
  • Investment

    Fidus Investment (FDUS) Q3 2022 Earnings Call Transcript

    November 4, 2022
    By Megan
  • Investment

    Oil prices rise after sharp weekly losses, Fed cues awaited By Investing.com

    February 20, 2023
    By Megan
  • Investment

    Eni Boosts Gas Production In Libya With $8 Billion Investment

    January 31, 2023
    By Megan
  • Investment

    Is Hertz Network (HTZ) a Bad Investment Friday?

    December 30, 2022
    By Megan
  • Investment

    BNDX ETF: Still No Investment Case For International Bonds

    January 3, 2023
    By Megan

Leave a reply Cancel reply

You may interested

  • Brokers

    Zim advisory brokers US$113m Namibian iconic property deal

  • Stock Shares

    Patrick Vaughan Sells 300,000 Shares of LondonMetric Property Plc (LON:LMP) Stock

  • Investment

    Saudi Arabia launches bid to attract $10 billion in supply chain investment

  • LATEST REVIEWS

  • TOP REVIEWS

Timeline

  • March 22, 2023

    Why Pimco says ‘breakage’ is intended by central banks

  • March 22, 2023

    Jim Chalmers must get more ambitious

  • March 22, 2023

    Top brokers name 3 ASX shares to buy today 22 March 2023

  • March 22, 2023

    How to Buy NAB Shares – Forbes Advisor Australia

  • March 22, 2023

    How To Invest In FinTech In 2023

Best Reviews

Latest News

Australian Economy

Why Pimco says ‘breakage’ is intended by central banks

With benchmark rates in restrictive territory – meaning there is less cash available in the economy – “it’s now a matter of balancing between breaking too many things versus not ...
  • Jim Chalmers must get more ambitious

    By Megan
    March 22, 2023
  • Top brokers name 3 ASX shares to buy today 22 March 2023

    By Megan
    March 22, 2023
  • How to Buy NAB Shares – Forbes Advisor Australia

    By Megan
    March 22, 2023
  • How To Invest In FinTech In 2023

    By Megan
    March 22, 2023
  • Recent

  • Popular

  • Comments

  • Why Pimco says ‘breakage’ is intended by central banks

    By Megan
    March 22, 2023
  • Jim Chalmers must get more ambitious

    By Megan
    March 22, 2023
  • Top brokers name 3 ASX shares to buy today 22 March 2023

    By Megan
    March 22, 2023
  • How to Buy NAB Shares – Forbes Advisor Australia

    By Megan
    March 22, 2023
  • Why Pimco says ‘breakage’ is intended by central banks

    By Megan
    March 22, 2023
  • Australia’s economy: boom or bust?

    By Megan
    September 9, 2019
  • Australian economy suffers virus symptoms

    By Megan
    February 10, 2020
  • Australian economy likely already slowing in Q2 before Delta downturn

    By Megan
    August 30, 2021

Trending News

  • Australian Economy

    Why Pimco says ‘breakage’ is intended by central banks

    With benchmark rates in restrictive territory – meaning there is less cash available in the economy – “it’s now a matter of balancing between breaking too many things versus not ...
  • Australian Economy

    Jim Chalmers must get more ambitious

    Today, business leaders and policy-minded economists are wondering whether the Labor treasurer will develop a serious plan. They want him to succeed, to revive waning productivity, lift real wages and ...
  • Brokers

    Top brokers name 3 ASX shares to buy today 22 March 2023

    Image source: Getty Images Many of Australia’s top brokers have been busy adjusting their financial models again, leading to the release of a number of broker notes this week. Three ...
  • Stock Shares

    How to Buy NAB Shares – Forbes Advisor Australia

    Understanding how to invest in the ASX and NAB shares doesn’t have to be an overwhelming process. The simplest way to help you grasp this procedure, is by breaking it ...
  • Investment

    How To Invest In FinTech In 2023

    Have you noticed that the services you use mostly belong to financial technology? From every financial service to house financing, all is the main force of fintech. You might have ...
  • About us
  • Contact Us
  • Cookie Policy
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© Copyright The Oceania Times. All rights reserved.

SUBSCRIBE TO OUR NEWSLETTER

Get our latest downloads and information first. Complete the form below to subscribe to our weekly newsletter.