Aerojet Announces Maintenance, Repair And Operations Management Agreement

SACRAMENTO, Calif., Dec. 13, 2012 (GLOBE NEWSWIRE) -- Aerojet, a GenCorp (NYSE:GY) company, announced today the recent signing of a multi-year master agreement with Storeroom Solutions, Inc. (SSI) to deploy a flexible, integrated supply chain service model for all maintenance, repair and operations (MRO) material requirements across the enterprise. This alliance will unify all operating site locations and aggregate the total spend under a single enterprise Management Services Agreement.

SSI is a full-service provider of indirect materials management and is the fastest growing independent 3PMRO supply specialist in the country. SSI combines decades of experience and a passion for customer service with cutting-edge technology. Their best-in-class sourcing, inventory management and storeroom operations service model delivers the total solution – procurement, stocking, monitoring, staffing and storeroom management.

"The SSI agreement is another example of Aerojet's Supply Chain/Materiel Management strategy of enterprise-wide supply agreements that drive affordability and efficiency for the company," said Aerojet Supply Chain Vice President, Hal Martin.

The major benefit provided by this competitive agreement is SSI's leveraged buying power, as well as the efficiencies that will result from using significantly fewer suppliers. Additional benefits include reduced material costs, improved inventory management (control, accuracy, optimization and integration with maintenance), 100 percent availability of critical spares, and improvements in productivity by moving parts closer to work areas (point of use). Starting in January, Aerojet's Sacramento site will integrate into the MRO program. Early in the first quarter of 2013, the MRO program will be implemented simultaneously at the company's Camden, Ark., Orange, Va., Vernon, Calif. and Redmond, Wash. sites.

Aerojet is a world-recognized aerospace and defense leader providing propulsion and energetics to the space, missile defense, strategic, tactical missile and armaments areas in support of domestic and international markets. GenCorp is a leading technology-based manufacturer of aerospace and defense products and systems with a real estate segment that includes activities related to the entitlement, sale, and leasing of the company's excess real estate assets. Additional information about Aerojet and GenCorp can be obtained by visiting the companies' websites at www.Aerojet.com and at www.GenCorp.com .

The Aerojet logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=12048

CONTACT: Glenn Mahone, Aerojet, 202.302.9941
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         Kristin Conner, Aerojet, 916.355.2143
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