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GenCorp to pay $550 mln for United Tech's Rocketdyne
July 23, 2012 / 12:11 PM / in 5 years

GenCorp to pay $550 mln for United Tech's Rocketdyne

July 23 (Reuters) - GenCorp Inc, a maker of aerospace propulsion systems, will pay $550 million for United Technologies Corp’s Pratt & Whitney Rocketdyne unit, the two companies said on Monday.

The deal will almost double GenCorp’s size, while allowing United Tech to pay down a portion of debt tied to its acquisition of Goodrich Corp.

The deal is expected to close in the first half of 2013.

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