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Aerojet Awarded Contract for Strategic Strike Propulsion Technologies
SACRAMENTO, Calif., March 8, 2006 -- Aerojet, a GenCorp Inc. (NYSE: GY) company, was selected by the U.S. Air Force for a second-phase contract to develop and test a full-scale solid rocket motor for application on potential Intercontinental Ballistic Missile (ICBM) systems. The contract is valued at approximately $20 million and was awarded by the 526th ICBM Systems Wing at Hill AFB, Utah.
Aerojet received a first-phase contract in March 2005 to conduct a six-month study to evaluate solid rocket motor technologies that balance cost with performance.
During the next four years, Aerojet will design, fabricate and test two full-scale second-stage solid rocket motors. The company will draw on its extensive experience producing solid rocket motors in the past for Peacekeeper and Small ICBM missile systems, as well as its current work providing solid rocket motors for launch vehicles and missile systems for the nation's military.
"Aerojet's 50-year legacy in ICBM systems, coupled with recent technology advancements in solid rocket materials and processing, position us well to meet the needs of the U.S. Air Force for affordable future strike systems," said Aerojet President Scott Neish.
Aerojet is a world-recognized aerospace and defense leader principally serving the missile and space propulsion, and defense and armaments markets. GenCorp is a leading technology-based manufacturer of aerospace and defense products and systems with a real estate business segment that includes activities related to the development, sale and leasing of the Company's 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.
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