Published on 17 Apr 2023 on Zacks via Yahoo Finance
Aerojet Rocketdyne Holdings, Inc. AJRD recently inked a $215.6 million cooperative agreement with the U.S. Department of Defense. The funds have been granted to the company mainly to expand its manufacturing capacity of rocket propulsion systems used in military missiles.
Per the agreement, Aerojet will fortify its manufacturing capacity while also adding modern and technologically advanced equipment. Through the upgradation of the capacity, the company aims to meet the increased motor production demand, mainly for Javelin, Stinger and the Guided Multiple Launch Rocket System.
Aerojet Rocketdyne’s Growth Prospects