GenCorp
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| GenCorp Inc. | |
|---|---|
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| Type | Public (NYSE: GY) |
| Founded | 1915 |
| Headquarters | Sacramento, California |
| Key people | Terry L. Hall, Chairman of the Board, President and CEO |
| Industry | aerospace and defense and real estate. |
| Revenue | $624 million (2005) |
| Net income | loss of $230 million (2005) |
| Employees | ~3000 |
| Website | www.gencorp.com |
GenCorp is an American technology-based manufacturer based in Sacramento, California. Established in 1915, GenCorp was formerly the General Tire and Rubber Company.
The name change was implemented in 1984 when GenCorp was formed as a parent holding company for General Tire's various businesses. Its main subsidiaries were General Tire, broadcaster RKO General and defense contractor Aerojet.
Faced with a hostile takeover attempt, GenCorp shed some of its historic units in the late 1980s. The company sold RKO General's broadcast properties beginning in 1987, after protracted license renewal proceedings that stemmed from widespread lying to advertisers and regulators. GenCorp also sold it's former flagship, General Tire, to German tire maker Continental AG in order to concentrate on Aerojet. In 1999, GenCorp spun off its Decorative & Building Products and Performance Chemicals businesses into a separate, publicly-traded company called OMNOVA Solutions, Inc.
GenCorp's two remaining businesses, as of 2008, are Aerojet and Real Estate. [1]
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