Aerojet Rocketdyne says it has decommissioned more than 400 buildings

Aerojet Rocketdyne says the first four years of its five-year affordability drive have resulted in a 1.1 million-square-foot reduction in the company's facilities.

Aerojet's Competitive Improvement Program was launched in early 2015.

The company said it has consolidated capabilities and facilities and, as of last month, had decommissioned 427 buildings, reducing its footprint by 1.1 million square feet.

Additionally, a "major component of the initiative was the transfer of production of three key defense-related propulsion programs from the Sacramento, California, site to the company's sites in Camden, Arkansas, and Orange County, Virginia, that had similar manufacturing capabilities," the company said in a statement.

"In December 2017, one customer took first product deliveries of the two divert attitude propulsion programs that were transferred to Virginia, and in July 2018, another customer took first deliveries of a critical large solid rocket motor program that was transferred to Arkansas," it added.

Eileen Drake, Aerojet's chief executive, said in the statement that the company is on its way to achieving annual cost reductions of about $230 million by 2021.