GenCorp Completes Acquisition of Rocketdyne

GenCorp Completes Acquisition of Rocketdyne

GenCorp announced today that it has completed acquisition of “substantially all operations” of Pratt & Whitney Rocketdyne from United Technologies.   It will be combined with GenCorp’s Aerojet subsidiary and called Aerojet Rocketdyne.

Rocketdyne has gone through several corporate mergers and acquisitions.  It has been part of North American Aviation; North American Rockwell; Rockwell International; Boeing; and Pratt & Whitney, a subsidiary of United Technologies.

United Technologies agreed to sell Pratt & Whitney Rocketdyne to GenCorp in July 2012 for $550 million.  The Federal Trade Commission (FTC) approved the sale on Monday despite concerns that it would create a “monopoly in the market for a type of advanced missile defense interceptor propulsion system.”  The FTC said that it was approving the sale “primarily because the Department of Defense wishes to see the transaction go forward for national security reasons.”

GenCorp President and CEO Scott Seymour said that the addition of Rocketdyne “almost doubles the size of our company and provides additional growth opportunities as we build upon the complementary capabilities of each legacy company, including their talented people and innovative technologies.”



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