American Pacific to Acquire GenCorp
American Pacific Corp., which makes rocket propellant, agreed to buy GenCorp Inc.’s Aerojet Fine Chemicals unit for $119 million to enter the pharmaceutical-ingredients business.
Sacramento-based GenCorp is selling the Rancho Cordova-based unit to focus on aerospace and defense products and Northern California real estate, a spokeswoman said.
For the record:
12:00 a.m. July 15, 2005 For The Record
Los Angeles Times Friday July 15, 2005 Home Edition Main News Part A Page 2 National Desk 1 inches; 34 words Type of Material: Correction
American Pacific -- A headline on a news brief in Thursday’s Business section said American Pacific Corp. would acquire GenCorp Inc. American Pacific has agreed to buy Aerojet Fine Chemicals, a unit of GenCorp.
Shares of Las Vegas-based American Pacific rose 62 cents, or 7.6%, to $8.77. GenCorp gained 50 cents, or 2.6%, to $19.85.
