Aerojet Rocketdyne CEO: 'Special focus on space' is generating optimism

By Marjorie Censer / September 13, 2018 at 12:05 PM

The plans to create a Space Force could boost Aerojet Rocketdyne's business, the company's chief executive said today.

Speaking at a G.research conference, Eileen Drake said she sees the new effort "as a positive."

"It shows that the president and the administration sees the importance" of space, she said. "We've never seen while we've all been in the industry such a buzz on space. . . . We're very optimistic about it."

Drake also said Aerojet is seeing more appetite within the Trump administration for foreign military sales.

She told the conference attendees Aerojet Rocketdyne's top priority for spending its capital is mergers and acquisitions. But, so far, "it's tough to find those opportunities."

"It doesn't necessarily mean buying a company, it could be buying a product line, it could be buying a portion of a business that fits with us," Drake added. "I just ask that you be patient with us. We want to find the right thing, we want to be smart about it, thoughtful about it and make sure it's a good fit with the company."