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Aerojet Awarded Network Centric Airborne Defense Element Contract
SACRAMENTO, Calif., July 25, 2006 -- Aerojet, a GenCorp Inc. (NYSE: GY) company, was awarded a contract from Raytheon Missile Systems to develop a new liquid divert and attitude control system (DACS) for a risk reduction demonstration for the Missile Defense Agency's Network Centric Airborne Defense Element (NCADE) program. Aerojet's contract is valued at more than $1 million.
NCADE is a missile defense system that will affordably leverage operational tactical missile technologies and infrastructure. During this nine month effort, Aerojet will focus on a cost effective liquid DACS using advanced monopropellant technologies as part of the overall NCADE system capability. Successful results of the effort will be evaluated by the Missile Defense Agency to determine applicability to a dynamic, cost-effective capability development program. Aerojet will perform this propulsion work at its Redmond, Wash., location.
"We look forward to working with Raytheon to demonstrate that NCADE is a cost-effective boost- and ascent-phase intercept system," said Aerojet President Scott Neish. "NCADE will complement other MDA defensive capabilities focused on the protection of the continental United States and its allies against shorter range missile threats."
Aerojet has already produced and delivered over 11,000 flight hydrazine monopropellant thrusters for missile defense, military space, NASA and commercial programs. United States Air Force and Aerojet investments in advanced monopropellants are bringing to the market new capabilities where higher performance is required for missions such as NCADE. Aerojet's new advanced monopropellants provide these enhanced capabilities for interceptors and post boost applications while maintaining the inherent simplicities of monopropellant systems.
Aerojet is a world-recognized aerospace and defense leader principally serving the missile, 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 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.
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