GenCorp completes GDX Automotive sell off

By Liz White, ERJ staff

Sacramento, California-GenCorp Inc. announced 1 Sept that it has completed the sale of its GDX Automotive business to New York-based investment firm Cerberus Capital Management LP. GenCorp will receive $147 million in cash from the transaction, on a debt-free cash-free basis.

The troubled automotive profiles business has been a loss maker for some time, and Gencorp has been considering options for its future for several months.

“The sale of GDX represents a major step in GenCorp’s efforts to focus the company’s…

To read more,please login or register below.

This is the first step to more free
content, user offers, subscriptions
and more.
Log in here using the Email Address
and Password you signed up with