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Aerojet Rocketdyne To Acquire L3 Business Unit That Builds Target Missiles

Rich Abott By
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Aerojet Rocketdyne [AJRD] on Feb. 22 said it has agreed to acquire Coleman Aerospace from L3 Technologies [LLL] for $15 million in cash, in a deal that will add the design and production of target ballistic missiles to its portfolio.Coleman is expected to have $40 million in sales in 2017. The unit has about 150 employees.Coleman is based in Florida and develops and integrates air and ground-launched ballistic missile targets and mission planning for the Missile Defense Agency, and hypersonic…

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