SACRAMENTO, Calif., May 10, 2010 – Aerojet, a GenCorp (NYSE: GY) company, announced today that it has been selected by The Boeing Company to supply heavy alloy weights for Boeing’s revolutionary Composite Main Rotor Blade (CMRB) in support of the AH-64D Apache Block III (AB3) program.
Under the initial contract, Aerojet will deliver completed rotor weights to support Boeing’s production of the U.S. Army’s low rate initial production requirements for AB3 (approximately 43 aircraft) in 2010. Completed deliveries are anticipated by 2012. In an effort to enhance battle support effectiveness and reduce operational and support costs, the Army intends to procure or upgrade more than 600 aircraft by 2025. Several hundred more Apaches are also candidates for the upgrade and there are current plans for more than 100 additional new build airframes in the near future.
“The CMRB is a vitally important piece of the overall capability that Block III Apache will bring to the warfighter,” said Colonel Shane Openshaw, project manager, Apache Attack Helicopter. “Simply put, CMRB improves aircraft performance, improves overall aircraft readiness, reduces life-cycle costs and reduces pilot workload.”
The precision-machined tungsten alloy weights perform a critical function in establishing aeromechanical stability of the blade. Aerojet was able to offer these components at significant cost savings over conventionally processed materials. Through Aerojet’s efforts, Boeing has also specified the material to a more rigorous industry standard, ensuring a higher level of quality and performance. These improvements are made possible by the incorporation of Aerojet’s proprietary near-net shape technology, which is derived from the company’s high-performance ordnance manufacturing process. This cost-effective technology was originally developed to manufacture kinetic energy penetrators for M1 tanks, M2 Bradley Fighting Vehicles, Phalanx CIWS and infantry in the field. All work will be performed at Aerojet's Specialty Metals facility in Jonesborough, Tenn. and will be completed by Dec. 2010.
“We are proud to make a critical contribution to this important program,” said Aerojet’s Vice President of Defense Systems, Dick Bregard.
“Furthermore, this award demonstrates the significant value Aerojet is delivering through its expansion into commercial specialty metals markets.”
Aerojet is a world-recognized aerospace and defense leader principally serving the missile and space propulsion, defense and armaments markets. GenCorp is a leading technology-based manufacturer of aerospace and defense products and systems with a real estate 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 Statement:
This press release contains forward-looking statements based on current management expectations. Numerous factors, including those related to market conditions and 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.