Announced Action for May 21, 2004

Application for approval of proposed divestiture: The Commission has received an application for approval of a proposed divestiture from GenCorp, Inc., related to the FTC’s consent order conditionally allowing GenCorp’s purchase of the propulsion business of Sequa’s Atlantic Research Corporation (ARC). Under the terms of the consent order, first announced on October 15, 2003, and made final on December 30, 2003, GenCorp was required to divest ARC’s in-space liquid propulsion business within six months of completing the acquisition of ARC. Through the application received by the FTC and announced today, GenCorp has petitioned the Commission for approval to divest ARC’s in-space liquid propulsion assets, as that term is defined in the order, to American Pacific Corporation.

The Commission is accepting public comments on the proposed divestiture for 30 days, until June 19, 2004, after which it will determine whether to approve it. Comments should be sent to: FTC, Office of the Secretary, 600 Pennsylvania Ave., N.W., Washington, DC 20580. (FTC Docket No. C-4099, File No. 031-0152; the staff contact is Daniel P. Ducore, Bureau of Competition; see press releases issued October 15 and December 30, 2003.)

Copies of the documents mentioned in this release are available from the FTC’s Web site at http://www.ftc.gov and also from the FTC’s Consumer Response Center, Room 130, 600 Pennsylvania Avenue, N.W., Washington, DC 20580. Call toll-free: 1-877-FTC-HELP.