News: Page (1) of 1 - 07/23/12 Email this story to a friend. email article Print this page (Article printing at page facebook

UTC to sell Rocketdyne unit to GenCorp for $550M

United Technologies agrees to sell Rocketdyne unit to GenCorp for $550 million By The Associated Press

HARTFORD, Conn. (AP) United Technologies Corp. says it has agreed to sell its Rocketdyne unit to GenCorp Inc. for $550 million.

The Hartford-based industrial conglomerate made the announcement Monday morning, saying the transaction is expected to close in the first half of 2013.

Rocketdyne, a manufacturer of rocket engines and liquid-propulsion systems, has been part of UTC's Pratt & Whitney division for seven years.

UTC had previously said it planned to sell Rocketdyne and other businesses to raise $3 billion to finance its purchase of aerospace parts maker Goodrich Corp.

Page: 1

Related Keywords:UTC-Rocketdyne,Business,General news,Ownership changes,Corporate news,Industrial products and services,Industries


Our Privacy Policy --- @ Copyright, 2015 Digital Media Online, All Rights Reserved