3D printed RL10 rocket engine combustion chambers shown in the manufacturing area at L3Harris’ facility in West Palm Beach, Florida.
WASHINGTON — Rocketdyne is returning as an independent company as AE Industrial Partners completes its purchase of L3Harris Technologies’ space propulsion, power and electronics units, separating a 1,300-person space supplier from the missile businesses L3Harris plans to keep.
AE Industrial said Aug. 4 that it now owns 60% of Rocketdyne. L3Harris retains a 40% noncontrolling interest and will continue as a strategic partner. The firms announced the $845 million transaction in January.
Kristin Houston, who led the businesses while they were part of L3Harris, has been named chief executive. Houston previously ran the company’s Space Propulsion & Power Systems unit and its electro-optical business, and spent more than 16 years at Boeing in engineering and program management positions.
“As an independent and standalone company, we can move faster, make decisions closer to the customer and pursue opportunities that simply weren’t available to us inside a larger organization,” Houston told reporters.
