When was Rocketdyne founded?
Rocketdyne
The Rocketdyne Division was founded by North American Aviation (NAA) in 1955, and was later part of Rockwell International (1967-1996) and Boeing (1996-2005). In 2005, the Rocketdyne Division was sold to United Technologies Corporation, becoming Pratt & Whitney Rocketdyne as part of Pratt & Whitney. In 2013, Pratt & Whitney Rocketdyne was sold to GenCorp, which merged it with Aerojet to form Aerojet Rocketdyne.[1]
Aerojet Rocketdyne Holdings
In July 2012, GenCorp agreed to buy rocket engine producer Pratt & Whitney Rocketdyne from United Technologies Corporation for $550 million. The FTC approved the deal on June 10, 2013, and it closed on June 17.
GenCorp withdrew its over-funded pension during the real estate boom years of 2006 and 2007. The real estate bust caused an underfunding of the pension plan of over $300 million. This caused a freeze of its pension plan on Feb. 1 2009 and an end to 401k match on Jan 15 2009. The move was expected to save the company 29 million a year.