SACRAMENTO, Calif., Dec. 6 /PRNewswire-FirstCall/ -- Aerojet, a GenCorp Inc. company, announced today the company has signed a teaming agreement for rights in the United States, Japan and South America to integrate Russian-built "Hall-effect" thrusters into Aerojet's existing portfolio of world-class electric propulsion systems for commercial and scientific satellites.
Aerojet's ability to use associated components and incorporate its systems integration expertise with flight-qualified Hall thrusters, built by Fakel Experimental Design Bureau of Kaliningrad, Russia, will allow Aerojet to provide a broader range of electric propulsion system capabilities in less time and at a lower cost to its U.S. customers. This will also make Aerojet more competitive in the international marketplace. Aerojet expects first delivery from Fakel to occur during the first quarter of 2007.
"This teaming agreement takes advantage of proven technologies allowing for reduced costs and reduced time-to-market for Aerojet's customers," said Julie Van Kleeck, Aerojet vice president of Space Programs.
Most of today's commercial communications satellites, including those that support television viewing, mobile phone service, and next generation military communications, use electric propulsion. Electric propulsion provides dramatically improved fuel efficiency that gives the satellite longer on-orbit performance and increased customer revenues compared to chemical propulsion. As satellites require a longer lifespan and heavier payloads, electric propulsion is expected to provide even more value. Aerojet is the leading producer of electric propulsion systems in the global market, which the company expects to grow to over $100 million per year by 2011.
Aerojet is a world-recognized aerospace and defense leader principally serving the missile and space propulsion, and armaments markets. GenCorp is a leading technology-based manufacturer of aerospace and defense products and systems with a real estate business segment that includes activities related to the entitlement, sale, and leasing of the Company's excess real estate assets. Additional information about Aerojet and GenCorp can be obtained by visiting the Companies' web sites at http://www.aerojet.com/ and http://www.gencorp.com/ .
Forward-Looking Statements
This press release contains forward-looking statements based on current management expectations. Numerous factors, including those related to the electric propulsion market and other general market conditions, as well as those detailed from time to time in GenCorp's filings with the Securities and Exchange Commission, may cause results to differ materially from those anticipated in the forward-looking statements. Many of the factors that will determine GenCorp's future results are beyond the ability of GenCorp to control or predict. These statements are subject to risks and uncertainties and, therefore, actual results may differ materially. Readers should not place undue reliance on forward-looking statements, which reflect management's views only as of the date hereof. GenCorp undertakes no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
