A decades-old rocket factory in Redmond, Wash., is due to be rebranded with a time-honored name: Rocketdyne.
If all goes according to plan, the facility will become part of a joint venture created under the terms of an $845 million deal involving L3Harris Technologies and AE Industrial Partners.
L3Harris took over the Redmond facility in 2023 when it acquired Aerojet Rocketdyne for $4.7 billion. Now L3Harris plans to sell a majority stake in its Space Propulsion and Power Systems business to AE Industrial, while retaining 40% ownership of the newly created Rocketdyne venture. The transaction is expected to close in the second half of 2026, subject to regulatory approvals and other conditions.
