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Business/Financial

Aerojet Rocketdyne Expanding Affordability Program To Generate $85 Million In New Savings

By Cal Biesecker

Monday, April 10th, 2017

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Aerojet Rocketdyne Expanding Affordability Program To Generate $85 Million In New Savings

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

Aerojet Rocketdyne [AJRD] on Monday announced a new round of facilities consolidation and optimization that is expected to result in $85 million in annual savings.The first phase of the company’s two-year-old Competitive Improvement Program (CIP) is expected to save the company $145 million annually, and adding the second phase will bring those savings to $230 million, Aerojet Rocketdyne said. Phase one is expected to be completed in 2019 and phase two in 2021.The total one-time costs for the CIP are…

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