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Business/Financial

Aerojet Rocketdyne To Acquire L3 Business Unit That Builds Target Missiles

By Cal Biesecker

Wednesday, February 22nd, 2017

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Aerojet Rocketdyne To Acquire L3 Business Unit That Builds Target Missiles

Aerojet Rocketdyne President and CEO Eileen Drake. Photo: Aerojet Rocketdyne.

Aerojet Rocketdyne [AJRD] on Wednesday said it has agreed to acquire Coleman Aerospace from L3 Technologies [LLL] for $15 million in cash, in a deal that will add the design and production of target ballistic missiles to its portfolio.Coleman is expected to have $40 million in sales this year. The unit has about 150 employees.Coleman is based in Florida and develops and integrates air and ground-launched ballistic missile targets and mission planning for the Missile Defense Agency, and hypersonic testing…

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