{"id":64962,"date":"2023-07-28T13:32:32","date_gmt":"2023-07-28T13:32:32","guid":{"rendered":"https:\/\/one.sightlinemg.com\/defensenews\/uncategorized\/2023\/07\/28\/l3harris-closes-purchase-of-aerojet-rocketdyne\/"},"modified":"2026-08-08T00:58:08","modified_gmt":"2026-08-08T00:58:08","slug":"l3harris-closes-purchase-of-aerojet-rocketdyne","status":"publish","type":"post","link":"https:\/\/one.sightlinemg.com\/defensenews\/air\/2023\/07\/28\/l3harris-closes-purchase-of-aerojet-rocketdyne\/","title":{"rendered":"L3Harris closes purchase of Aerojet Rocketdyne"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><i>Correction: A previous version of this story misidentified Ross Niebergall\u2019s prior role at L3Harris Technologies. He was vice president and chief technology officer there.<\/i><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">WASHINGTON \u2014 L3Harris on Friday announced it had completed its <a href=\"https:\/\/www.defensenews.com\/industry\/2023\/07\/27\/l3harris-says-feds-cleared-aerojet-deal-set-to-close-friday\/\" target=\"_blank\">acquisition of Aerojet Rocketdyne<\/a>, adding a company with broad expertise in building rocket engines and propulsion systems to its portfolio.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The $4.7 billion deal, which the companies <a href=\"https:\/\/www.defensenews.com\/industry\/2022\/12\/19\/l3harris-moves-to-acquire-aerojet-rocketdyne\/\" target=\"_blank\">first announced in December 2022<\/a>, will give L3Harris more opportunities in the missile defense system, hypersonic, and advanced rocket engine markets, the company said in a Friday statement.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cI\u2019m thrilled to welcome more than 5,000 employees to the L3Harris team today,\u201d L3Harris chief executive Christopher Kubasik said. \u201cWith national security at the forefront, we\u2019re combining our resources and expertise with Aerojet Rocketdyne\u2019s propulsion and energetics capabilities to ensure that the Department of Defense and civil space customers can address critical mission needs globally.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Ross Niebergall, who until now was vice president and chief technology officer at L3Harris, will be the president of L3Harris\u2019 <a href=\"https:\/\/www.defensenews.com\/industry\/2022\/12\/19\/experts-forecast-smooth-path-for-l3harris-aerojet-acquisition\/\" target=\"_blank\">new Aerojet Rocketdyne segment<\/a>. The company said Niebergall will be responsible for the Aerojet division\u2019s business strategy, financial performance, execution of programs and growth.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cOur customers demand a competitive environment that produces innovative, agile solutions,\u201d Niebergall said. \u201cWe will expand on the strong Aerojet Rocketdyne heritage to enhance production and deliver on those expectations.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">By Friday morning, <a href=\"https:\/\/www.rocket.com\/\" target=\"_blank\">Aerojet Rocketdyne\u2019s website<\/a> had been redirected to L3Harris\u2019 home page, and it is now known as Aerojet Rocketdyne, an L3Harris Technologies company. L3Harris\u2019 other business segments are space and airborne systems, integrated mission systems, and communication systems.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Lockheed Martin\u2019s previous attempt at acquiring Aerojet for $4.4 billion <a href=\"https:\/\/www.defensenews.com\/industry\/2022\/02\/13\/lockheed-martin-says-its-effort-to-acquire-aerojet-is-over\/\" target=\"_blank\">ran aground amid federal regulator\u2019s antitrust concerns<\/a>. The Federal Trade Commission sued to block that deal in January 2022, and the following month, Lockheed canceled plans to buy Aerojet.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In January 2023, a month after L3Harris announced its own acquisition plans, Sen. Elizabeth Warren raised concerns to the FTC. Earlier this month, she also asked the Defense Department to carefully review the deal for any potential conflicts.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The FTC on Wednesday told L3Harris it would not block the deal, and the company told investors in a letter that it would swiftly move to close its purchase of Aerojet.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>L3Harris said its acquisition of Aerojet Rocketdyne will give it new opportunities in the hypersonic, missile defense, and advanced rocket engine markets.<\/p>\n","protected":false},"author":7,"featured_media":36030,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_yoast_wpseo_meta-robots-noindex":"","_yoast_wpseo_meta-robots-nofollow":"","_yoast_wpseo_canonical":"","_acf":"","_yoast_wpseo_primary_category":7,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","_smg_distribution_targets":[]},"categories":[7,160,36],"tags":[],"coauthors":[3412],"class_list":["post-64962","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-air","category-daily-news-roundup","category-newsletters"],"acf":{"subheadline":"","legacy_arc_id":"52BK7QWACFHWFIOOKS6V4ANZOU","arc_canonical_url":"\/air\/2023\/07\/28\/l3harris-closes-purchase-of-aerojet-rocketdyne\/","remove_feature_photo":false,"is_sponsored":false,"subtype":"","redirect_url":"","disable_inline_ads":false,"native_logo_pretext":"Presented 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