Rocketdyne, a high-tech business which is the world’s largest manufacturer of liquid-fuelled rocket propulsion systems, and belongs to United Technologies Corporation (NYSE:UTX), has been sold to GenCorp Inc. (NYSE:GY) for $550 million, according to a report by Reuters. The move by United Tech, is a part of its on-going thrust, on reducing the debt it took on to fund its $16.5 billion acquisition of Goodrich Corporation (NYSE:GR). The other units on the block, but not yet sold, are the compressors business of the Hamilton Sundstrand unit, and Clipper Windpower. These are non-core units being shed by Chief Executive Louis Chenevert, in a bid to…
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