Teledyne Technologies Incorporated (NYSE:TDY) announced today that its subsidiary, Teledyne Brown Engineering, Inc. (TBE), in Huntsville, Ala., has signed a letter of agreement to form a strategic alliance with Aerojet - General Corporation, a GenCorp (NYSE: GY) company, to manufacture and assemble liquid rocket engines.
The agreement states that Teledyne Brown and Aerojet will cooperatively develop, manufacture and market liquid propellant rocket engines for customers such as NASA and other aerospace companies.
Under the agreement, the companies will pursue contracts for the manufacture of liquid rocket engines for NASA through the Space Launch System program as well as for other customers. It is anticipated that as a result of this work, a potential 1,400 additional jobs could be brought to the Northern Alabama and California areas.
"We are very pleased to partner with Aerojet, a world leader in liquid rocket engine technology," said Rex D. Geveden, President, Teledyne Brown Engineering. "The combination of Aerojet's leadership in engine design and production and Teledyne's experience with complex engineered systems and advanced manufacturing creates a strong, unchallengeable offering to customers."
Read the full article here.