Aerojet Parent GenCorp to Buy Rocketdyne for $550 Million


SACRAMENTO, Calif., July 23, 2012 (GenCorp PR) — GenCorp Inc. (GY), headquartered in Sacramento, California, announced today that it has signed a definitive agreement to acquire Pratt & Whitney Rocketdyne (PWR) from United Technologies Corporation (UTX) for $550 million.

“We see great strategic value in this transaction for the country, our customers, partner supply base and our shareholders,” GenCorp Chief Executive Officer Scott Seymour said. “The combined enterprise will be better positioned to compete in a dynamic, highly competitive marketplace, and provide more affordable products for our customers.”

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