Lockheed Martin Statement on FTC Opposition to Aerojet Rocketdyne Acquisition

Update on Proposed Aerojet Rocketdyne Acquisition
Lockheed Martin
Jan. 25, 2022

Earlier this month, Lockheed Martin and Aerojet Rocketdyne agreed with the Federal Trade Commission (FTC) that the parties would not close the transaction before Jan. 27, 2022, to enable the parties to discuss the scope and nature of the merchant supply and firewall commitments previously offered by Lockheed Martin. Lockheed Martin has been advised by the FTC that its concerns regarding the transaction cannot be addressed adequately by the terms of a consent order. Lockheed Martin believes it is highly likely that the FTC will vote to sue to block the transaction and expects they will make a decision before Jan. 27, 2022.

If the FTC sues to block the transaction, Lockheed Martin could elect to defend the lawsuit or terminate the merger agreement. Additional information concerning the transaction can be found in Lockheed Martin’s 2021 Form 10-K that has been filed with the Securities and Exchange Commission.

Lockheed Martin continues to believe in the benefits of the transaction for the United States and its allies, the industry, and all of the company’s stakeholders.

FTC Sues to Block Lockheed Martin Corporation’s $4.4 Billion Vertical Acquisition of Aerojet Rocketdyne Holdings Inc.

Agency Seeks to Prevent World’s Largest Defense Contractor from Eliminating Last Independent U.S. Missile Propulsion Provider and Further Consolidating Markets Critical to National Security and Defense

WASHINGTON (FTC PR) — Today, the Federal Trade Commission sued to block Lockheed Martin Corporation’s $4.4 billion proposed vertical acquisition of Aerojet Rocketdyne Holdings Inc, the last independent U.S. supplier of missile propulsion systems. Aerojet supplies advanced power, propulsion, and armament systems, which are critical components for the missiles made by Lockheed and other defense prime contractors. The agency’s complaint alleges that if the deal is allowed to proceed, Lockheed will use its control of Aerojet to harm rival defense contractors and further consolidate multiple markets critical to national security and defense. This is the agency’s first litigated defense merger challenge in decades.

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United Launch Alliance Successfully Launches Critical Space Surveillance Mission for U.S. Space Force

A ULA Atlas V rocket carrying the USSF-8 mission for the U.S. Space Force lifts off from Space Launch Complex-41 at 2:00 p.m. EST on Jan. 21. (Credit: United Launch Alliance)

Atlas V launched Geosynchronous Space Situational Awareness Program (GSSAP) satellites, GSSAP-5 and GSSAP-6, to a near-geosynchronous orbit

CAPE CANAVERAL SPACE FORCE STATION, Fla., January 21, 2022 (ULA PR) – A United Launch Alliance (ULA) Atlas V rocket carrying the USSF-8 mission for the U.S. Space Force’s Space Systems Command lifted off on Jan. 21 at 2:00 p.m. EST from Space Launch Complex-41 at Cape Canaveral Space Force Station. To date ULA has launched 148 times with 100 percent mission success.

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ULA Atlas V to Launch USSF-8 Mission in Support of National Security on Friday

A United Launch Alliance Atlas V rocket launches on the Department of Defense’s Space Test Program 3 (STP-3) mission from Space Launch Complex 41 at Cape Canaveral Space Force Station, Tuesday, Dec. 7, 2021. The mission’s Space Test Program Satellite-6 (STPSat-6) spacecraft hosts NASA’s Laser Communications Relay Demonstration (LCRD) and the NASA-U.S. Naval Research Laboratory Ultraviolet Spectro-Coronagraph (UVSC) Pathfinder. (Credit: NASA/Joel Kowsky)

CAPE CANAVERAL SPACE FORCE STATION, Fla., Jan. 19, 2022 (ULA PR) – A United Launch Alliance (ULA) Atlas V rocket is in final preparations to launch the USSF-8 mission for the U.S. Space Force’s Space Systems Command. The launch is on track for Jan. 21, 2022 from Space Launch Complex-41 at Cape Canaveral Space Force Station. Launch is planned for 2:00 p.m. EST. The live launch broadcast begins at 1:40 p.m. EST at www.ulalaunch.com.

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NASA Prepares SLS Moon Rockets for First Crewed Artemis Missions

Casting and assembly of solid rocket booster, shown her, for the Artemis IV mission is underway at Northrop Grumman’s factory in Promontory, Utah. The booster motors for Artemis II and Artemis III have completed casting and are ready to go to NASA’s Kennedy Space Center where they will be assembled with other booster hardware being prepared for the missions. (Credit: NASA)

HUNTSVILLE, Ala. (NASA PR) — As teams continue to prepare NASA’s Space Launch System (SLS) rocket for its debut flight with the launch of Artemis I, NASA and its partners across the country have made great progress building the rocket for Artemis II, the first crewed Artemis mission. The team is also manufacturing and testing major parts for Artemis missions III, IV and V.

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United Launch Alliance to Launch STP-3 Mission in Support of National Security

An ULA Atlas V rocket carrying the SBIRS GEO Flight 5 mission for the U.S. Space Force’s Space and Missile Systems Center lifts off from Space Launch Complex-41at 1:37 p.m. EDT on May 18. (Credit; United Launch Alliance)

Mission will be a direct injection to Geosynchronous Equatorial Orbit (GEO) and longest mission to date

CAPE CANAVERAL SPACE FORCE STATION, Fla., Dec. 2, 2021 (ULA PR) – A United Launch Alliance (ULA) Atlas V rocket is in final preparations to launch the Space Test Program (STP)-3 mission for the U.S. Space Force’s Space Systems Command. The launch is on track for Dec. 5, 2021 from Space Launch Complex-41 at Cape Canaveral Space Force Station. Launch is planned for 4:04 a.m. EST. The live launch broadcast begins at 3:30 a.m. EST at www.ulalaunch.com.

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Aerojet Completes Successful Space Launch System Rocket Engine Test Series

The RS-25 engine fires up for a 500-second test Jan. 9 at NASA’s Stennis Space Center near Bay St. Louis, Mississippi. (Credit: NASA)

STENNIS SPACE CENTER, Miss., Sept. 30, 2021 (Aerojet Rocketdyne PR) – Today’s RS-25 engine test at NASA’s Stennis Space Center completed the Retrofit-2 test series, which validated modernized, lower-cost components for new RS-25 engines to be used on the Space Launch System (SLS) heavy-lift rocket.

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Aerojet Rocketdyne Awarded NASA Contract for Orion Spacecraft Main Engine

Artist’s impression of Orion over Earth. (Credit: NASA/ESA/ATG Medialab)

LOS ANGELES, Sept. 21, 2021 (Aerojet Rocketdyne PR) — NASA has selected Aerojet Rocketdyne to build the Orion Main Engine (OME), the primary propulsion element for NASA’s Orion spacecraft that will be used to explore deep space. Under the contract, which runs through 2032, Aerojet Rocketdyne will deliver up to 20 new OME engines for use on future Artemis missions beginning with Artemis VII, or to support other NASA-sponsored, deep space exploration missions.

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Aerojet Rocketdyne Expands Los Angeles Facility for NASA’s Moon and Mars Rocket

Aerojet Rocketdyne cuts the ribbon on an extension to the company’s Los Angeles rocket production facility that will support NASA’s Space Launch System rocket and Artemis program. Pictured left to right: Jim Maser, Sr. Vice President of Space at Aerojet Rocketdyne; Johnny Heflin, Manager of NASA’s Space Launch System Liquid Engines Office; Eileen P. Drake, Aerojet Rocketdyne CEO and President; Congressman Brad Sherman (D-CA); Dr. Paul McConnaughey, Senior Advisor, NASA Human Exploration and Operations Mission Directorate; Fernando Vivero, Aerojet Rocketdyne Los Angeles Site Lead. (Credit: Aerojet Rocketdyne)

LOS ANGELES, Aug. 18, 2021 (Aerojet Rocketdyne PR) — Aerojet Rocketdyne has finished a major expansion of its Los Angeles facility to support production of new-generation RS-25 main engines for NASA’s Space Launch System (SLS), which will send astronauts to the Moon as early as 2024.

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ULA Atlas V Set to Launch Boeing CST-100 Starliner Spacecraft on Second Orbital Flight Test

Boeing’s CST-100 Starliner spacecraft is secured atop a United Launch Alliance Atlas V rocket at the Vertical Integration Facility at Space Launch Complex-41 at Florida’s Cape Canaveral Space Force Station on July 17, 2021. (Credit: Boeing/Damon Tucci)

Cape Canaveral Space Force Station, Fla., July 27, 2021 (ULA PR) – A United Launch Alliance (ULA) Atlas V rocket is in final preparations to launch Boeing’s CST-100 Starliner spacecraft on the second Orbital Flight Test (OFT-2) to the International Space Station (ISS). The launch is planned for July 30 at 2:53 p.m. EDT from Space Launch Complex-41 at Cape Canaveral Space Force Station. The live launch broadcast begins no earlier than 2 p.m. EDT on July 30 at  www.ulalaunch.com.

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NASA Announces Nuclear Thermal Propulsion Reactor Concept Awards

Illustration of a conceptual spacecraft enabled by nuclear thermal propulsion. (Credits: NASA)

WASHINGTON (NASA PR) — NASA is leading an effort, working with the Department of Energy (DOE), to advance space nuclear technologies. The government team has selected three reactor design concept proposals for a nuclear thermal propulsion system. The reactor is a critical component of a nuclear thermal engine, which would utilize high-assay low-enriched uranium fuel.

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Aerojet Rocketdyne Demonstrates 3D Printed RL10C-X Engine in Full Mission Capability During Altitude Hot Fire Test Series

WEST PALM BEACH, Fla., May 11, 2021 (Aerojet Rocketdyne PR) — Aerojet Rocketdyne recently completed a successful RL10C-X altitude hot fire test series that put the next generation engine through the rigors of a typical spaceflight mission. Using a test chamber that simulates the vacuum of outer space, the RL10C-X, which produces roughly 24,000 pounds of thrust, was tested in a flight-like configuration to demonstrate the engine’s capability to complete a typical mission profile, including multiple restarts.

The RL10C-X is the next evolution of the company’s RL10 upper-stage engine and contains major components – including the injector and combustion chamber – produced with the company’s industry-leading 3D printing technology.

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NASA’s Space Launch System Core Stage Heads to Kennedy Space Center

Artemis I core stage leaves Stennis Space Center on the Pegasus barge. (Credit: NASA)

BAY ST. LOUIS, Miss. (NASA PR) — The first core stage of NASA’s Space Launch System (SLS) rocket departs Stennis Space Center near Bay St. Louis, Mississippi, following completion of the Green Run series of tests of its design and systems. The stage now is in route to the agency’s Kennedy Space Center in Florida, its final stop prior to NASA’s launch of the Artemis I mission around the Moon. At Kennedy, the core stage will be integrated with the rest of the SLS rocket and the Orion spacecraft in preparation for launch. Through the Artemis program, NASA will return humans, including the first woman and first person of color, to the Moon and prepare for eventual journeys to Mars.

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Final RS-68A Engine for Delta IV Heavy Completes Hot-fire Acceptance Test

Aerojet Rocketdyne’s RS-68A rocket engine successfully completed its final acceptance test April 12, 2021, on the B-1 test stand at NASA’s Stennis Space Center in Mississippi. The RS-68A powers the United Launch Alliance Delta IV Heavy rocket to send critical spacecraft into orbit. (Credit: NASA Stennis)

STENNIS SPACE CENTER, Miss. (Aerojet Rocketdyne PR) — Today (April 12), the world’s most powerful hydrogen-fueled rocket engine built by Aerojet Rocketdyne, the RS-68A, completed its final hot-fire acceptance test for use on the United Launch Alliance (ULA) Delta IV Heavy launch vehicle on the B-1 Test Stand at NASA’s Stennis Space Center in Mississippi.

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Boeing Statement on SLS Core Hot Fire

Acting NASA Administrator Steve Jurczyk, left, and Rick Gilbrech, director of NASA’s Stennis Space Center, right, watch as the core stage for the first flight of NASA’s Space Launch System rocket undergoes a second hot fire test in the B-2 Test Stand, Thursday, March 18, 2021, at NASA’s Stennis Space Center near Bay St. Louis, Mississippi. The four RS-25 engines fired for the full-duration of 8 minutes during the test and generated 1.6 million pounds of thrust. The hot fire test is the final stage of the Green Run test series, a comprehensive assessment of the Space Launch System’s core stage prior to launching the Artemis I mission to the Moon. (Credit: NASA/Robert Markowitz)

STENNIS SPACE CENTER, Mississippi, March 18, 2021 (Boeing PR) — Deep space exploration took an important step forward today. The cryogenic core stage for NASA’s Space Launch System (SLS) rocket completed hot fire testing at NASA’s Stennis Space Center as part of the SLS rocket’s Green Run test campaign on the B-2 test stand. The test, which included a full-duration, eight-minute engine burn, demonstrated successful core stage operation and will be used to help certify the stage for flight.

“I want to thank the extraordinary individuals who make up the NASA, Aerojet Rocketdyne and Boeing teams who designed, developed, produced and tested the all-new SLS core stage to enable sustainable human exploration of deep space,” said John Shannon, Boeing SLS vice president and program manager.