Posted: Wed, Jul 25, 2012, 10:02 PM ET (0202 GMT)
The parent company of aerospace propulsion company Aerojet will buy rocket engine manufacturer Rocketdyne from United Technologies, the companies announced this week. GenCorp, the parent of Aerojet, will purchase Pratt and Whitney Rocketdyne from its owner, United Technologies Corporation (UTC), for $550 million. UTC announced earlier this year it planned to sell Rocketdyne in order to finance other acquisitions. The deal brings together two of the largest American launch vehicle propulsion companies, manufacturing an array of liquid- and solid-propellant engines. The deal is expected to close in the first half of 2013.

Related Links:

•  Aviation Week article
•  Los Angeles Times article
•  Space News article
•  AP article
•  GenCorp press release