Note: Only forum leaders may delete posts.
*HTML is ON *UBB Code is ON Smilies Legend
Smilies Legend
[i]United Technologies Corp. (UTC) is expected to complete the sale of its Pratt & Whitney Rocketdyne rocket propulsion arm within the next two weeks as part of efforts to raise $3 billion to help finance its acquisition of Goodrich Corp. Although the rocket maker declines to comment, Aviation Week understands final paperwork is in the process of being signed for the company’s sale to a private investment group. UTC originally put Pratt & Whitney Rocketdyne up for sale in 2011, and revived its offer in March following shareholder approval for the takeover of Goodrich on March 13. Fellow U.S. rocket manufacturers Alliant Techsystems (ATK) and GenCorp’s Aerojet were originally thought to be the most likely potential bidders for PWR, which UTC bought from Boeing for $700 million in 2005. However, sources at the 28th National Space Symposium being held here tell Aviation Week that unnamed investors are in the process of clinching the deal.[/i]
Contact Us | The Source for Space History & Artifacts
Copyright 1999-2024 collectSPACE. All rights reserved.