The US Federal Trade Commission (FTC) has approved GenCorp's buy of United Technology Corporation's (UTC) Rocketdyne space engine manufacturing division, allowing the $550 million purchase to move forward.
The purchase brings together two of the largest launch vehicle engine manufacturers in the nation. Rocketdyne builds engines for United Launch Alliance's Delta IV and Atlas V rockets, currently the only large rockets certified to carry important US government payloads. GenCorp owns Aerojet, which builds smaller liquid-fueled engines. Rocketdyne and Aerojet occasionally compete with one another.
The sale was announced in July, 2012 but took some time to work its way through the FTC's approval system, giving rise to speculation of a denial based on monopoly. Though the FTC did find the merger would give GenCorp a monopoly on some small engines used in missile defence interceptor rockets, the deal was approved by request from the Department of Defense.
Neither GenCorp nor Rocketdyne responded to immediate questions.