GenCorp sells GDX Automotive

By Liz White, ERJ staff
Sacramento, California-GenCorp Inc. is selling its automotive profiles unit, GDX Automotive, for $174 million to a venture capital group.
Following a 7 July statement about a potential sale for the loss-making profiles business, Gencorp announced 19 July that it had signed a definitive agreement to sell GDX to New York based investment firm Cerberus Capital Management LP.
GenCorp will receive $147 million in cash for GDX. The sale, which is subject to regulatory approvals and other customary closing conditions, is expected…

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