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Business/Financial

GenCorp Launches Competitiveness Initiative, Announces Name Change

By Cal Biesecker

Tuesday, March 10th, 2015

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GenCorp Launches Competitiveness Initiative, Announces Name Change

Guided Multiple Launch Rocket Systems (GMLRS) Unitary Rocket Launch. Aerojet Rocketdyne produces the solid propellant rocket motor for the system. Photo: Lockheed Martin.

GenCorp Inc. [GY] on Monday said its Aerojet Rocketdyne business has launched a competitive improvement program aimed at cutting costs and boosting operational efficiencies, which it expects will result in annual cost savings of about $145 million by 2019.In a rebranding move, the company also said it is changing its name to Aerojet Rocketdyne Holdings, Inc., and will adopt the stock ticker symbol “AJRD” with the NYSE, a change it expects will occur in late April.Aerojet Rocketdyne is GenCorp’s largest…

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