L3Harris Technologies (NYSE:LHX) has completed the acquisition of Aerojet Rocketdyne, forming a fourth business segment at the company.
L3Harris signed a definitive agreement to purchase Aerojet Rocketdyne in December of 2022, emphasizing its ability to strengthen the defense industrial base, enhance competition and accelerate innovation for a critical merchant supplier of propulsion systems.
The company also announced Ross Niebergall will serve as President of the Aerojet Rocketdyne segment at L3Harris.
The acquisition diversifies the L3Harris portfolio, adding considerable long-cycle backlog and broad expertise that enables opportunities in missile defense systems, hypersonics and advanced rocket engines, among other areas.
Aerojet Rocketdyne will be known as Aerojet Rocketdyne, an L3Harris Technologies company.
“I’m thrilled to welcome more than 5,000 employees to the L3Harris team today. With national security at the forefront, we’re combining our resources and expertise with Aerojet Rocketdyne’s propulsion and energetics capabilities to ensure that the Department of Defense and civil space customers can address critical mission needs globally. Our customers demand a competitive environment that produces innovative, agile solutions. We will expand on the strong Aerojet Rocketdyne heritage to enhance production and deliver on those expectations.” — Christopher E. Kubasik, Chair and CEO, L3Harris