Aerojet Rocketdyne Awarded $215.6M to Supplement Ongoing Modernization Efforts and Increase Solid Rocket Motor Manufacturing Capacity

Rhea-AI Summary

Aerojet Rocketdyne has secured a $215.6 million Cooperative Agreement from the Defense Department aimed at enhancing domestic rocket propulsion manufacturing capabilities. This agreement, facilitated by the Office of Manufacturing Capability Expansion and Investment Prioritization, will primarily focus on increasing production for tactical missile systems like Javelin, Stinger, and GMLRS. In addition to building modernized facilities and acquiring advanced equipment, the company aims to automate its manufacturing processes. Recent investments include a 51,000 sq. ft. facility in Camden, Arkansas, and a 379,000 sq. ft. facility in Huntsville, Alabama. Aerojet Rocketdyne continues to play a pivotal role in supporting defense missions with its advanced propulsion systems.

Positive

• Secured a $215.6 million Cooperative Agreement with the Defense Department.
• Focus on increasing production for tactical missile systems, including Javelin and Stinger.
• Investments in new facilities and automation to boost manufacturing capacity and efficiency.

Negative

• None.

HUNTSVILLE, Ala., April 14, 2023 (GLOBE NEWSWIRE) -- Aerojet Rocketdyne has entered into a $215.6 million Cooperative Agreement with the Defense Department to increase domestic rocket propulsion manufacturing capacity to meet increased warfighter demand for tactical missile systems used by the Department of Defense (DoD).

Through the Cooperative Agreement with the Office of Manufacturing Capability Expansion and Investment Prioritization (MCEIP), Aerojet Rocketdyne will build additional modernized facilities, purchase advanced equipment, and automate manufacturing processes to support increased production demand primarily focused on Javelin, Stinger and the Guided Multiple Launch Rocket System (GMLRS). Enhanced modernization of solid rocket motor production will directly support industry primes and military services. The company will also implement elements of Digital Transformation that align our enterprise with DoD’s Digital Modernization Strategy to afford the Joint Force a competitive advantage in the modern battlespace.

“These funds will build upon our own significant investments in modern, efficient facilities and innovative technologies and processes to design and develop advanced propulsion systems to support the defense missions of tomorrow,” said Eileen P. Drake, Aerojet Rocketdyne’s CEO and president.

Aerojet Rocketdyne’s ongoing modernization efforts include building state-of-the-art facilities and automating manufacturing processes. Recent investments include a new 51,000 sq. ft. facility at our Camden, Arkansas, site that consolidates solid rocket motor manufacturing activities, improving both efficiency and safety, increasing production capacity, and reducing costs. The company recently leased a massive 379,000 sq. ft. facility to expand manufacturing capability in Huntsville, Alabama, where it will produce inert components to support solid rocket motors for a range of defense programs. The company also opened a new space at its Coleman Aerospace site, where employees are producing the innovative Stored Chemical Energy Propulsion System for next generation torpedoes.

The Aerojet Rocketdyne team has powered tactical, air defense, missile defense and strategic deterrence weapon systems for decades. This Cooperative Agreement will enable Aerojet Rocketdyne to provide critical propulsion capability to DoD well into the future.

About Aerojet Rocketdyne: Aerojet Rocketdyne, a subsidiary of Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD), is a world-recognized aerospace and defense leader that provides propulsion systems and energetics to the space, missile defense and strategic systems, and tactical systems areas, in support of domestic and international customers. For more information, visit www.Rocket.com and www.AerojetRocketdyne.com. Follow Aerojet Rocketdyne and CEO Eileen Drake on Twitter at @AerojetRdyne and @DrakeEileen.

Media Contact:
Eileen Lainez, Aerojet Rocketdyne, 571-239-7839
eileen.lainez@rocket.com

FAQ

What is Aerojet Rocketdyne's recent agreement with the Defense Department about?

Aerojet Rocketdyne secured a $215.6 million Cooperative Agreement to enhance domestic rocket propulsion manufacturing for tactical missile systems.

Which tactical missile systems will Aerojet Rocketdyne support with the new funding?

The funding will primarily enhance production for Javelin, Stinger, and GMLRS systems.

How will Aerojet Rocketdyne improve its manufacturing capabilities?

The company plans to build modernized facilities, purchase advanced equipment, and automate manufacturing processes.

What facilities has Aerojet Rocketdyne recently invested in?

Aerojet Rocketdyne invested in a 51,000 sq. ft. facility in Camden, Arkansas, and a 379,000 sq. ft. facility in Huntsville, Alabama.

What is the significance of the Cooperative Agreement for Aerojet Rocketdyne?

It enables Aerojet Rocketdyne to provide critical propulsion capabilities to the Defense Department for future defense missions.