This article is included in these additional categories: ABM | Boeing | Mergers & Acquisitions | Space | Top Stories | United Technologies | USA
Boeing Sells Rocketdyne Unit for $700M
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Boeing Co. is selling its rocket propulsion business to United Technologies Corp. of Hartford, Conn., for approximately $700 million in cash. Rocketdyne builds booster engines for the Space Shuttle and Delta rockets, as well as propulsion systems for missile defense systems. Boeing IDS President and CEO Jim Albaugh said that Boeing would continue to build some launch systems, but that the sale also reinforces Boeing IDS' strategic business aim to be "horizontally - not vertically - integrated."
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