Aerojet Rocketdyne Well Positioned to Continue to Drive Growth, Profitability and Value Creation – Announces Termination of Merger Agreement with Lockheed
Press release from: Aerojet Rocketdyne
Posted: Sunday February 13th 2022
Aerojet Rocketdyne Holdings, Inc. (NYSE: AJRD) (the “Company”) today reaffirmed its strong foundation for substantial value creation following the termination of its merger agreement with Lockheed Martin Corporation. The Company issued the following statement:
We are poised to deliver substantial value to our shareholders through our continued leadership in key growth markets for space exploration and defense, including advancing hypersonic, strategic, tactical and missile defense systems. Aerojet Rocketdyne generated strong shareholder returns of 166% in the five years prior to the announcement of the transaction, significantly outperforming the Aerospace & Defense Index by 33% and the S&P 500 by 62%.
We are confident in our future performance with an impressive backlog representing more than three times the size of our annual sales and a solid macroeconomic environment supporting our portfolio. We look forward to providing further details regarding our financial performance and strategy in our fourth quarter and full year 2021 earnings report on February 17, 2022.
This release contains certain “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995. The statements in this release are based on management’s current expectations and are subject to risks, uncertainties and changes in circumstances, which could cause actual results, performance or achievements to differ materially from anticipated results, performance or achievements. All statements contained herein that are not clearly historical in nature are forward-looking and the words “believe”, “could”, “expect” and similar expressions are generally intended to identify forward-looking statements. A variety of factors could cause actual results to differ materially from those anticipated and expressed in Aerojet Rocketdyne’s forward-looking statements.
About Aerojet Rocketdyne Holdings, Inc.
Aerojet Rocketdyne Holdings, Inc., headquartered in El Segundo, Calif., is an innovative manufacturer of aerospace and defense products and systems, with a real estate segment that includes legal, sales and rental of the company’s surplus. real estate assets. Further information may be obtained by visiting the Company’s websites at www.rocket.com Where www.aerojetrocketdyne.com.
Media: Steve Warren, Vice President, Communications 703-650-0278
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Joele Frank, Wilkinson Brimmer Katcher
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