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American Pacific To Acquire Aerojet-General's In-Space Propulsion Business
Las Vegas - Apr 28, 2004 American Pacific Corporation has agreed to acquire the in-space propulsion business (ISP Business) from Aerojet-General Corporation (Aerojet) for approximately $3.5 million in cash and the assumption of certain liabilities. The agreement includes customary closing conditions and requires the receipt of Federal Trade Commission approval of the transaction. The transaction is expected to close in the second half of 2004. In October 2003, Aerojet acquired Atlantic Research Corporation's propulsion business, including the ISP Business. As a condition to the Federal Trade Commission's approval of that acquisition, Aerojet is required to divest the ISP Business. The ISP business, a leading supplier of commercial and military propulsion products, is the world's largest producer of bipropellant thrusters. The ISP business has operations in Niagara Falls, New York, and in Westcott, England. In 2003, the ISP business had sales of approximately $13 million. "One of our strategies is to invest in and grow our aerospace and defense business. This transaction will allow American Pacific to offer a broad array of products and service to aerospace and defense customers. We believe that by combining our expertise in energetic materials with ISP management's expertise in the design, development and testing of thrusters, we will be able to accelerate the development of new products for customers in this industry," said John R. Gibson, CEO of American Pacific. American Pacific is a specialty chemical company that produces products used primarily in space flight and defense systems, automotive airbag safety systems, fire extinguishment systems and explosives. Related Links American Pacific Corporation Aerojet SpaceDaily Search SpaceDaily Subscribe To SpaceDaily Express
Beyond-Earth Launches LC-Mission One
Colorado Springs - Apr 21, 2004Beyond-Earth Enterprises, a Colorado Springs-based small payload sub-orbital launch company, announced its first successful launch on the Road to Space. The LC rocket reached an altitude of approximately 6000 feet at 3:30 MDT on April 17th. Total burn time for the engine was less than three seconds. |
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