Rolls-Royce Limited

Rolls-Royce Limited was a British luxury car and later an aero-engine manufacturing business established in 1904 in Manchester by the partnership of Charles Rolls and Henry Royce. Building on Royce's good reputation established with his cranes, they quickly developed a reputation for superior engineering by manufacturing the The business was incorporated as "Rolls-Royce Limited" in 1906, and a new factory in Derby was opened in 1908. The First World War brought the company into manufacturing aero-engines. Joint development of jet engines began in 1940, and they entered production in 1944. Rolls-Royce has since built an enduring reputation for the development and manufacturing of engines for military and commercial aircraft.

In the late 1960s, Rolls-Royce was adversely affected by the mismanaged development of its advanced RB211 jet engine and consequent cost over-runs, though it ultimately proved a great success. In 1971, the owners were obliged to liquidate their business. The useful portions were bought by a new government-owned company named "Rolls-Royce (1971) Limited", which continued the core business but sold the holdings in British Aircraft Corporation (BAC) almost immediately and transferred ownership of the profitable but now financially insignificant car division to Rolls-Royce Motors Holdings Limited, which it sold to Vickers in 1980. Rolls-Royce obtained consent to drop the '1971' distinction from its company name in 1977, at which point it became known once again as "Rolls-Royce Limited".

The Rolls-Royce business remained nationalised until 1987 when, after having renamed the company to "Rolls-Royce plc", the British government sold it to the public in a share offering. Rolls-Royce plc still owns and operates Rolls-Royce's principal business, although, since 2003, it is technically a subsidiary of Rolls-Royce Holdings plc, a listed holding company. Provided by Wikipedia