Aerojet Awarded Contract for Research and Technology in Aerospace Propulsion
Written by: developer
SACRAMENTO, Calif. (April 13, 2010) - Aerojet, a GenCorp (NYSE: GY) company, announced today that NASA Glenn Research Center has awarded the company a five-year Indefinite-Delivery, Indefinite-Quantity (IDIQ) contract to provide NASA with its space propulsion system technologies, including cryogenic and electric propulsion for spacecraft.
Aerojet is one of five companies to be awarded a contract - potentially worth up to $50 million - to support NASA's research and technology activities. A key to Aerojet's award was forming a team that was capable of meeting diverse NASA needs. Members of the Aerojet team include: Ball Aerospace, Boeing, Florida Turbine Technologies, Inc., Gray Research, Lockheed Martin and United Launch Alliance. Key small business team members include: Alphaport of Cleveland, Ohio; Easi of Houston, Texas; ElectroDynamic Applications, Inc. (EDA) of Ann Arbor, Mich.; and IN-Space LLC of West Lafayette, Ind.
Each of the five IDIQ contract awards provides for fixed price, cost share and cost reimbursement competitive tasks with a maximum value of $50 million throughout the next five years.
Aerojet is a world-recognized aerospace and defense leader principally serving the missile and space propulsion, defense and armaments markets. GenCorp is a leading technology-based manufacturer of aerospace and defense products and systems with a real estate 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 Statement:
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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