United Tech (UTX -1%) agrees to sell its Rocketdyne unit to GenCorp (GY) for $$550M as United...

|By:, SA News Editor

United Tech (UTX -1%) agrees to sell its Rocketdyne unit to GenCorp (GY) for $$550M as United Tech works to sell non-core units and focuses on closing its $16.5B Goodrich acquisition. United Tech will use the money from the sale to repay some of the debt it took to buy Goodrich. (PR)