CruisingChick Posted February 2, 2006 #1 Share Posted February 2, 2006 RCCL reaches partial settlement in pods suit 2/2/2006 Royal Caribbean Cruises Ltd. disclosed a $38m partial settlement of its lawsuit over problems related to the Mermaid propulsion pods on Celebrity Cruises’ Millennium-class ships. The pods were co-produced by Rolls Royce and Alstom Power Conversion. Alstom paid Royal Caribbean $38m, or 16 cents per share, and the cruise operator released Alstom from the suit, which remains pending against Rolls Royce. The partial settlement will be recorded in Royal Caribbean’s first-quarter 2006 earnings. Most of the pod problems have been related to the bearings and their mechanical function, components that were primarily the responsibility of Rolls Royce, according to Royal Caribbean chairman and ceo Richard Fain. Fain told analysts during today’s earnings call that his company is ‘aggressively’ pursuing its case against Rolls Royce. Link to comment Share on other sites More sharing options...
Longboysfan Posted February 2, 2006 #2 Share Posted February 2, 2006 Something to off set the losses when the Infinity was having major problems. That you could expect from the other Millie class ship in the future. Alstom did the right thing here getting out from under raway. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.