United Technologies is in final discussions to sell its Pratt & Whitney Rocketdyne space propulsion business to GenCorp, the Sacramento, Calif., parent company of Aerojet, Reuters reported late July 18, citing “two people familiar with the matter.”
“The deal, which may come late this week or early next week according to one of the sources, represents part of [United Technologies] efforts to divest non-core units and focus on closing its $16.5 billion acquisition of aircraft component maker Goodrich Corp.,” Reuters reports.
Pratt & Whitney Rocketdyne specializes in rocket propulsion and space power systems. Based in Canoga Park, Calif., with major facilities in West Palm Beach, Fla., the company makes the RL-10 upper-stage engines used on
Aerojet builds liquid and solid propulsion systems for all manner of rockets and spacecraft. But as the smallest of the three main U.S. propulsion firms, Aerojet frequently loses prime contract bids to Pratt & Whitney Rocketdyne and Minneapolis-based Alliant Techsystems.
READ IT AT: [Reuters via Chicago Tribune]