Friday, March 16, 2012

It's official: Rocketdyne for sale

Pratt and Whitney Rocketdyne is officially up for sale by its parent company, United Technologies. On Thursday, Rocketdyne's parent company, Hartford, Conn.-based United Technologies, announced it was selling the company to help finance its $16.5-billion purchase of aerospace supplier Goodrich Corp. Rocketdyne was first formed by North American Aviation. North American later merged with Rockwell International, which became part of Boeing. In 2005, Boeing sold Rocketdyne to United Technologies Corp. (Source: Los Angeles Times, 03/15/12) Previous: Shareholders OK merger; UT eyeing sale. Gulf Coast note: Pratt and Whitney Rocketdyne assembles and tests engines at Stennis Space Center; Goodrich has an operation in Foley, Ala.