L&T divests U.K. unit to Rolls-Royce


Larsen & Toubro International FZE, a wholly owned subsidiary of Larsen & Toubro Ltd. (L&T), has signed agreements with Rolls-Royceโ€™s power systems division for the strategic divestment of its U.K.-based Servowatch Systems, an integrated marine automation solutions provider.

Servowatch Systems has grown into an internationally recognized provider of Marine Automation platforms over the past eight years of L&Tโ€™s ownership. The firm has 44 staff in the U.K. and India, who deliver integrated marine automation solutions for navies, commercial vessels and large yachts, the company said.

โ€œThe divestment of Servowatch Systems is as per our stated goal of unlocking value within the existing business portfolio by divesting non-core units,โ€ said S.N. Subrahmanyan, CEO & MD, L&T.

โ€œL&T facilitated the business to develop an award-winning software platform for the latest generation of marine integrated platform management systems that are sold globally to many navies and commercial operators. We believe its partnership with Rolls-Royce and its product and solution brand MTU will pave the way for its further growth.โ€

In August, L&T concluded the strategic divestment of its Electrical & Automation (L&T E&A) business to Schneider Electric. Currently it is evaluating to divest non-core businesses.

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