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Aerojet Awarded $62 Million for U.S. Air Forces F-22 Raptor Program
SACRAMENTO, Calif., Dec. 10 /PRNewswire-FirstCall/ -- Aerojet, a GenCorp (NYSE: GY) company, announced today that it has been selected by The Boeing Company to provide additional forward boom ship sets, worth $62M over a three-year period, for the U.S. Air Force's F-22 Raptor program.
Aerojet is under contract with The Boeing Company to build the welded titanium forward boom for Lockheed Martin's F-22 Raptor. The forward boom is a structural component providing wing, engine and horizontal tail attach points to carry much of the F-22 aft fuselage load. Aerojet uses a unique, complex electron beam (EB) welding process that fuses together titanium pieces to precise dimensional tolerances, leading to dimensional stability, high quality and manufacturing consistency. The EB welding process allows the airframe design to incorporate complex features into a single component. This significantly reduces the need for fasteners, reduces weight, simplifies assembly and lowers cost.
Aerojet has been under contract to The Boeing Company on the F-22 Raptor air dominance fighter program since 1993, and has delivered a significant number of booms to date. The company also was recognized by The Boeing Company as its 'Supplier of the Year' in 2006. "Aerojet is a long-standing supplier to The Boeing Company and we are pleased to be contributing to the success of the F-22 program," said Aerojet President Scott Neish. "The multi-year commitment through 2010 will provide savings to Boeing and the Air Force over annual production buys." All work will be performed at Aerojet's Sacramento, CA facility and will be completed in 2010.
Aerojet is a world-recognized aerospace and defense leader principally serving the missile and space propulsion, defense and armaments markets. GenCorp is a leading technology-based manufacturer of aerospace and defense products and systems with a real estate segment that includes activities related to the entitlement, sale, and leasing of the company's excess real estate assets. Additional information about Aerojet and GenCorp can be obtained by visiting the companies' Web sites at http://www.Aerojet.com and http://www.GenCorp.com.
Forward-Looking Statements:
This press release contains forward-looking statements based on current management expectations. Numerous factors, including those related to market conditions and those detailed from time to time in GenCorp's filings with the Securities and Exchange Commission, may cause results to differ materially from those anticipated in the forward-looking statements. Many of the factors that will determine GenCorp's future results are beyond the ability of GenCorp to control or predict. These statements are subject to risks and uncertainties and, therefore, actual results may differ materially. Readers should not place undue reliance on forward-looking statements, which reflect management's views only as of the date hereof. GenCorp undertakes no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Aerojet - 12/10/2007
CONTACT:
Glenn Mahone, +1-202-302-9941, Glenn.Mahone@Aerojet.com, or
Kristin Conner, +1-916-355-2143, Kristin.Conner@Aerojet.com, both of Aerojet; or
Linda Cutler of GenCorp, +1-916-351-8650, Linda.Cutler@GenCorp.com
Web site: http://www.aerojet.com
http://www.GenCorp.com
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding GenCorp Inc.'s business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.
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