Pratt & Whitney Weighs Sale of Rocketdyne [Connecticut Post]
Pratt & Whitney President David Hess told reporters that the company is considering selling its Rocketdyne division because of “uncertainty in the space business today,” the Connecticut Post reported Sept. 7.
“With the lack of a clearly defined future path for human space exploration we are exploring all of our options with Rocketdyne,” Hess said in an emailed statement. He said East Hartford, Conn.-based Pratt has fielded interest in its Canoga Park., Calif. rocket-making division, acquired in 2005 for $700 million, but that a sale is not imminent.
“I can’t see Pratt getting rid of it for a bargain basement price,” said Richard Pettibone, an aerospace analyst with Forecast International, who mentioned Alliant Techsystems Inc. and GenCorp Inc. as leading candidates to purchase Rocketdyne.