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American Pacific Completes Acquisition of Aerojet Fine Chemicals.

Publication: PR Newswire
Publication Date: 30-NOV-05 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
LAS VEGAS, Nov. 30 /PRNewswire-FirstCall/ -- American Pacific Corporation announced today that it has completed the previously announced purchase of the Aerojet Fine Chemicals fine chemicals business (the "Business") of GenCorp Inc. , an Ohio corporation through the purchase of substantially all of the assets of Aerojet Fine Chemicals, LLC, a Delaware limited liability company ("AFC") and the assumption of certain liabilities of the Business.

The purchase price for AFC was $114.0 million plus a contingent payment of up to $5.0 million and the assumption by American Pacific of certain liabilities. Of this purchase price, $88.5 million was paid in cash at closing and $25.5 million was a subordinated seller note (which accrues interest on a payment-in-kind basis) issued at closing. The contingent payment of up to $5.0 million will be based on AFC achieving specified earnings targets in the twelve-month period ending September 30, 2006. Depending on the performance of AFC, there may be an interim adjustment. In...

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