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Aerojet Awarded Contract to Develop New Technologies for Future Intercontinental Ballistic Missile Systems
SACRAMENTO, Calif., June 13, 2006 -- Aerojet, a GenCorp Inc. (NYSE: GY) company, announced today a contract award from the U.S. Air Force to develop new upper stage solid rocket motor technologies for application on future strategic strike systems. This contract is the second contract recently awarded to Aerojet in this technology area.
In the four-month phase 1 program, Aerojet will conduct analyses to evaluate solid rocket motor technologies, balancing cost and performance. During the second phase, Aerojet will demonstrate advanced manufacturing processes by fabricating and testing a full-scale solid rocket upper stage motor. The total value of the phase 1 and phase 2 contracts is $19 million.
The program builds on Aerojet's 50-year heritage supporting Minuteman, Peacekeeper and Small ICBM missile systems for the U.S. Air Force. Aerojet will draw on its recent program experience in materials and manufacturing process technology to produce an affordable, sustainable next generation missile propulsion system.
"The technologies Aerojet develops under this contract can improve the sustainability of current systems, as well as enhance the capability for our nation's future strategic systems," said Aerojet President Scott Neish.
Engineering and fabrication of the solid rocket motors will be performed at Aerojet's Sacramento, Calif. facility. The motors will be tested in an altitude chamber at Arnold Engineering Development Center (AEDC), Arnold Air Force Base, Tenn.
Aerojet is a world-recognized aerospace and defense leader principally serving the missile and space propulsion, 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 entitlement, 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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