Monday, June 17, 2013

Rocketdyne deal to save $1B

PARIS -- Aerojet Rocketdyne, the company formed with GenCorp's purchase of Pratt & Whitney Rocketdyne, on Sunday said it has promised the U.S. government $1 billion in savings over the next decade as a result of the deal. Aerojet Rocketdyne President Warren Boley told Reuters that the new company, a wholly owned unit of GenCorp, expected to double its revenues over the next five years from a current combined estimate of $1.7 billion. (Source: Reuters, 06/16/13) Gulf Coast note: Aerojet Rocketdyne has an operation at Stennis Space Center, Miss. Previous