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Space

Aerojet Rocketdyne Pays Orbital ATK $50 Million In Antares Settlement

Pat Host

Thursday, September 24th, 2015

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Aerojet Rocketdyne Pays Orbital ATK $50 Million In Antares Settlement

Orbital's Antares rocket suffered a catastrophic launch failure Oct. 28, 2014; at Wallops Island while performing a Cargo Resupply Services (CRS) mission for NASA. Photo: NASA.

Aerojet Rocketdyne [AJRD] is paying Orbital ATK [OA] $50 million to settle a disagreement stemming from Orbital ATK’s Antares launch failure in October, according to a Securities and Exchange Committee (SEC) filing.As part of a settlement, the two companies mutually agree to terminate a contract where Aerojet Rocketdyne agreed to provide 20 AJ-26 liquid propulsion rocket engines to Orbital ATK for the Antares program. In exchange for the one-time $50 million payment by Sept. 30, Orbital ATK is returning the…

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