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GenCorp Completes Acquisition Of Rocketdyne

Gally Articola
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Following the Federal Trade Commission’s approval, GenCorp [GY] said it has completed its $550 million acquisition of the Rocketdyne business unit from United Technologies Corp. [UTX]. Rocketdyne will be combined with GenCorp’s existing rocket engine and missile propulsion business Aerojet to form Aerojet Rocketdyne, which will be headquartered in Sacramento, Calif. As part of the transaction GenCorp will acquire UTC’s 50 percent interest in the RD AMROSS joint venture following receipt of Russian regulatory approvals. “Today is an exciting milestone in the history of GenCorp,”…

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