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Business/Financial

GenCorp To Acquire Rocketdyne From UTC To Boost Heavy Lift Engine Business

Defense Daily Staff

Tuesday, July 24th, 2012

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GenCorp Inc. [GY] yesterday said it has agreed to acquire the Rocketdyne rocket engine business from United Technologies Corp. [UTX] for $550 million in a deal that would significantly increase the company’s heavy lift engine business. UTC is selling Rocketdyne, which it acquired in 2005 from Boeing [BA] for about $700 million, to raise proceeds for its pending acquisition of Goodrich [GR]. There is very little overlap between GenCorp’s Aerojet propulsion and motors business and Rocketdyne. Aerojet is known more…

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