Photo: Rolls-Royce Motor Cars
Misreporting and confusion among some parts of the media have led to an unusual press release from Rolls-Royce Motor Cars.
We are referring to the full name of the company we only call “Rolls-Royce” because it has been confused with “Rolls-Royce plc,” which is an aircraft engine manufacturer that shares the Rolls-Royce name, but has no link with the automaker.
In other words, these two companies may have the Rolls-Royce name in their designation, but they are different entities, and the automaker had to clarify this aspect through a press release. So, if you are an editor of another publication, regard these words: "Rolls-Royce Motor Cars has nothing to do with "Rolls-Royce plc."
Rolls-Royce plc builds power systems for aircraft, land applications, and ships. The company’s full name is "Rolls-Royce Holdings plc," and it has its headquarters in City of Westminster, London. This January, Rolls-Royce Holdings has agreed to pay £671 million to avoid prosecution in the UK, U.S., and Brazil.
The aircraft engine supplier has signed a charge agreement that also included a penalty of $170 million to American authorities, and an extra $25 million to Brazilian authorities.
According to reports, a bribery scandal was exposed when an employee of Brazil’s state-controlled oil company was offered a payoff to help the supplier win a $100 million contract for gas turbines destined for oil platforms. Other accusations of bribery followed, and this confusion temporarily stained the Rolls-Royce name.
It is important to note that these two companies share the first part of their name because there were once a single business, but were separated in 1973. Five years later, the aircraft engine division renamed itself as "Rolls-Royce plc." It eventually became "Rolls-Royce Holdings plc," after it was privatized in 1987 by the Margaret Thatcher government.
We wish that this article illuminates the circumstances for future stories. As you may have observed, we used the Rolls-Royce Motor Cars products to illustrate this story, because we are making this clarification following a release that was written by this company.
In other words, these two companies may have the Rolls-Royce name in their designation, but they are different entities, and the automaker had to clarify this aspect through a press release. So, if you are an editor of another publication, regard these words: "Rolls-Royce Motor Cars has nothing to do with "Rolls-Royce plc."
Rolls-Royce plc builds power systems for aircraft, land applications, and ships. The company’s full name is "Rolls-Royce Holdings plc," and it has its headquarters in City of Westminster, London. This January, Rolls-Royce Holdings has agreed to pay £671 million to avoid prosecution in the UK, U.S., and Brazil.
The aircraft engine supplier has signed a charge agreement that also included a penalty of $170 million to American authorities, and an extra $25 million to Brazilian authorities.
According to reports, a bribery scandal was exposed when an employee of Brazil’s state-controlled oil company was offered a payoff to help the supplier win a $100 million contract for gas turbines destined for oil platforms. Other accusations of bribery followed, and this confusion temporarily stained the Rolls-Royce name.
It is important to note that these two companies share the first part of their name because there were once a single business, but were separated in 1973. Five years later, the aircraft engine division renamed itself as "Rolls-Royce plc." It eventually became "Rolls-Royce Holdings plc," after it was privatized in 1987 by the Margaret Thatcher government.
We wish that this article illuminates the circumstances for future stories. As you may have observed, we used the Rolls-Royce Motor Cars products to illustrate this story, because we are making this clarification following a release that was written by this company.
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