L3Harris to acquire Aerojet Rocketdyne

L3Harris Technologies plans to acquire Aerojet Rocketdyne in an all-cash transaction valued at $4.7 billion.

Aerojet Rocketdyne provides propulsion systems, missile, and hypersonics technologies to the Defense Department, NASA, and allies worldwide.

Aerojet Rocketdyne currently generates approximately $2.3 billion in annual revenue. The company’s 5,200 employees operate primarily in advanced manufacturing facilities in California, Arkansas, Florida, Alabama, Virginia, Washington, Mississippi, Tennessee, and New Jersey.

L3Harris provides advanced defense and commercial technologies across space, air, land, sea, and cyber domains. It has more than $17 billion in annual revenue and customers in more than 100 countries.

The deal is expected to close in 2023, subject to regulatory approvals and customary closing conditions.

In early 2022, Lockheed Martin terminated its $4.4 billion offer to acquire Aerojet Rocketdyne following a U.S. Federal Trade Commission lawsuit seeking to block the acquisition because it would have been anticompetitive. https://www.l3harris.com; https://www.rocket.com.

Appointments

Seco Tools appointed Mia Bökmark vice president of product management and R&D. Prior to her most recent job as executive management advisor in her own company, she held managing positions within SKF for almost 30 years. https://www.secotools.com

Nick Falgiatano is the new marketing manager, Sales Area Americas, for Sandvik Coromant. He’s been with the company for 10 years as a sales engineer and, most recently, as a regional sales manager. https://www.sandvik.coromant.com

Jorgensen Conveyor and Filtration Solutions has promoted Karl Kleppek to company president and COO. Kleppek, director of sales and marketing, takes over for former president Charles (Chuck) D’Amico, who remains company CEO and board chairman. https://www.jorgensenconveyors.com

Rollomatic Group appointed David Ducsai as customer experience manager for North America. He manages the customer service team, field service, hotline, and parts & logistics teams for Rollomatic and Strausak CNC tool grinding, peel grinding, and laser cutting machines.

Rollomatic Holding Switzerland subsidiary Rollomatic Inc. appointed Jason Hodgin as regional sales manager for several key manufacturing areas in the Southeastern and Central United States. http://www.rollomaticusa.com

Methods Machine Tools named William (Bill) Keim as general manager for Texas and Louisiana. Keim, most recently a business sales manager at Zeiss, is a 25+ year veteran of the capital equipment and metrology solutions industries. https://www.methodsmachine.com

OSG USA Inc. promoted Donna Gialo to vice president of marketing, eCommerce, and customer success and hired Rick Harris as national accounts strategic manager.

Gialo, the former director of marketing, leads the development and execution of marketing communications, sales support, eCommerce, and customer experience strategies. The past 12 years, Harris has been involved in selling integrated supply solutions, sales management, and metalworking product management. https://www.osgtool.com

Solar Atmospheres of Michigan added Chris Molencupp as sales manager. His career of 30+ years includes commercial heat treatment, quality, operations, management, and sales. https://solaratm.com

Jergens Inc. appointed Matt Schron as vice president, overseeing workholding, lifting, and specialty fasteners divisions in addition to serving as GM. https://www.jergensinc.com