Monday, July 23, 2012
United Technologies reached an agreement to sell Rocketdyne, currently part of Pratt and Whitney, to aerospace manufacturer GenCorp Inc. for $550 million. Rocketdyne, based in Canoga Park, Calif., and the world's largest maker of liquid-fueled rocket propulsion systems, will nearly double GenCorp's size. GenCorp also ownes Aerojet, which produces solid-fuel rocket motors. Rocketdyne is one of three units UT put on the block in an effort to fund the manufacturer's $16.5 billion takeover of Goodrich Corp. of Charlotte, N.C. (Sources: PRNewswire, Reuters, 07/23/12) Gulf Coast note: Rocketdyne has an operation at Stennis Space Center, Miss., that assembles and tests rocket engines. Aerojet engines are tested at SSC; Goodrich has a service center in Foley, Ala.