Rocket engine manufacturer Pratt & Whitney Rocketdyne will be sold, officials with its parent company United Technologies said in a call on March 15 with financial analysts.
Pratt & Whitney has operations at two locations in Canoga Park and employs more than 1,500 employees. There are 2,400 employees with the company nationwide.
United Technologies is selling Pratt & Whitney and several other divisions to pay for its $16.5 billion acquisition of Goodrich Corp. expected to close later this year, according to a report from Bloomberg News.
No buyer was identified but United Technology has been talking to several interested firms.
“Pratt & Whitney will continue operating as a very successful company, to maximize its returns to its current and future owners,” the company said in a prepared statement.
Pratt & Whitney built the engine used on the Space Shuttle and is currently working on new rocket programs for NASA.
Mark R. Madler