Tuesday, June 11, 2013

FTC OKs Rocketdyne sale

The Federal Trade Commission said Monday it's going to allow GenCorp, owner of rocket-engine maker Aerojet, to purchase Pratt & Whitney Rocketdyne despite potential monopoly concerns. FTC voted to close its 10-month probe over national security concerns and allow the $550 million sale after the Defense Department requested approval. Both firms make rocket engines for spacecraft and components for military missile defense systems. They are also the only main suppliers of a high-performance liquid rocket propulsion system that the military uses for missile defense. (Source: The Hill, Reuters, 06/10/13) Gulf Coast note: Rocketdyne has an operation at Stennis Space Center, Miss., where Aerojet tests its AJ-26 engines. Previous: Rocketdyne being sold to GenCorp; UT completes unit sale to Safran; Antares has successful launch