Over the weekend, it was announced that the company is being sold to another firm named L3Harris for nearly $5 billion.
The biggest and most recent is the Artemis Missions to the Moon. The company designed propulsion systems for the rocket and the Orion lunar craft that orbited the Moon. The capsule recently had a successful return to earth with a splashdown in the Pacific Ocean. “This agreement will accelerate innovation for national security propulsion solutions while providing a premium cash value for our shareholders and tremendous benefits for our employees, customers, partners and the communities in which we operate,” Aerojet Rocketdyne CEO and president Eileen P. Drake said.
Earlier this year, the Federal Trade Commission sued to block Lockheed Martin Corporation from paying $4.4 billion for Aerojet Rocketdyne. The agency said it was working to prevent the world’s largest defense contractor from eliminating the last independent US missile propulsion provider.