AIRSHOW-Rolls-Royce CEO says cost savings of up to 1 bln stg possible

FARNBOROUGH, England, July 12 (Reuters) - Rolls-Royce Chief Executive Warren East, in the process of leading a turnaround plan at the British engine maker, said on Tuesday cost savings of up to 1 billion pounds ($1.3 billion) were possible but there was no target set yet.

Saying he was confident of achieving the 150-200 million pound level of savings set last year, East told reporters at the Farnborough Airshow Rolls-Royce was also looking to future projects, including a possible new Boeing (NYSE: BA - news) plane.

"We would like to participate if it's a sensible opportunity. We will see what plane they (Boeing) actually come up with, if they come up with one," East said.

The chief executive, who has been in the helm for a year, repeated he did not expect Rolls-Royce to undertake any large-scale disposals, but that the company may gradually look to reduce the number of products it makes in its marine and power systems units.

($1 = 0.7598 pounds) (Reporting by Sarah Young; Editing by Mark Potter)