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United Technologies to Sell Rocketdyne Unit to GenCorp Inc.

Tuesday, July 24, 2012

United Technologies Corp. (NYSE: UTX) announced it has reached agreement to sell its Rocketdyne unit, currently part of Pratt & Whitney, to GenCorp Inc. for $550 million. The transaction is expected to close in the first half of 2013.

As previously announced, proceeds from the sale will be used to repay a portion of the short-term debt incurred to finance the proposed acquisition of Goodrich Corporation. The transaction is subject to customary closing conditions, including regulatory approvals.

Click here to read the UTC press release.