Rolls-Royce ready to offer suppliers financial aid

16 February 2009

16 February 2009 | Jake Kanter

Rolls-Royce has said it is prepared to offer its suppliers financial support if they are struggling to generate cash.

The company will consider requests from vendors in the face of a "very difficult year for the global economy".

As the firm unveiled its 2008 preliminary results, chief operating officer Mike Terrett said Rolls-Royce will do whatever it takes to protect its customers and is keeping a "very close eye" on suppliers.

"We have a rigorous supplier watch, credit watch and performance set of metrics, so we have good visibility. There have been cases recently where our small suppliers were in serious trouble and exited the business," he said.

"We'll take whatever action is needed to protect the customer and then use it as an opportunity to consolidate our bigger, stronger suppliers. It is an issue, but it is part of what we do daily."

Sir John Rose, chief executive of Rolls-Royce, said: "We would look at doing what we can. We have a good relationship with our suppliers."

SMfeb2009

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