Aerojet Ordnance said the prospect of federal...

Aerojet Ordnance said the prospect of federal budget cuts has prompted a decision by the defense contractor to close its headquarters in Tustin and transfer all 108 employees to Downey by summer. “In light of the defense picture, this is a really good business move for us. We are just maximizing our resources,” Aerojet spokesman Timothy Doyle said. The company, which makes ammunition, cluster bombs, and warheads, already operates a manufacturing plant in Downey. Aerojet’s Tustin operation was limited to administration and research. Late last year, Aerojet, a subsidiary of Ohio-based GenCorp Inc., transferred more than 90 Orange County workers to a newly formed division in Azusa. GenCorp had sales of $1.6 billion and earned $155 million in fiscal 1987.