Rocketdyne, a high-tech business which is the world’s largest manufacturer of liquid-fuelled rocket propulsion systems, and belongs to United Technologies Corporation (NYSE:UTX), has been sold to GenCorp Inc. (NYSE:GY) for $550 million, according to a report by Reuters. The move by United Tech, is a part of its on-going thrust, on reducing the debt it took on to fund its $16.5 billion acquisition of Goodrich Corporation (NYSE:GR). The other units on the block, but not yet sold, are the compressors business of the Hamilton Sundstrand unit, and Clipper Windpower. These are non-core units being shed by Chief Executive Louis Chenevert, in a bid to…
On This Page
This content is exclusively for paying members of Hedge Fund Alpha
Insider Strategies and Letters to Shareholders from the Top Hedge Funds and Maximize Your Portfolio Growth with Hedge Fund Alpha
Don’t have an account?
Subscribe now and get 7 days free!
