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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC  20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):                    April 26, 2004

American Pacific Corporation

(Exact Name of Registrant as Specified in Charter)

Delaware	1-8137	59-6490478
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)
3770 Howard Hughes Parkway, Suite 300, Las Vegas, Nevada		89109
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s telephone number, including area code:          (702) 735-2200

N/A

(Former Name or Former Address, if Changed Since Last Report.)

Page 1

Item 5.	Other Events and Regulation FD Disclosure
	On April 26, 2004, American Pacific Corporation announced via press release that they had agreed to acquire the in-space propulsion (ISP Business) from Aerojet-General Corporation.  This agreement includes customary closing conditions and requires the receipt of Federal Trade Commission approval of the transaction.  The full text of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.
Item 7.	Financial Statements and Exhibits
	(c)          Exhibits

Exhibit No.	Description
99.1	Press Release dated April 26, 2004 regarding agreement to acquire Aerojet-General’s in-space propulsion business.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	AMERICAN PACIFIC CORPORATION
Dated: April 27, 2004	By:	/s/   SETH L. VAN VOORHEES
		Seth L. Van Voorhees
		Chief Financial Officer

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EX-99

EXHIBIT 99.1

AMERICAN PACIFIC CORPORATION
Contact:  Seth Van Voorhees – (702) 735-2200 ext. 166
E-mail:  InvestorRelations@apfc.com	Website:  www. apfc.com

AMERICAN PACIFIC SIGNS AGREEMENT TO ACQUIRE
AEROJET-GENERAL’S IN-SPACE PROPULSION BUSINESS

Las Vegas, NV, April 26, 2004 – American Pacific Corporation (NASDAQ: APFC) announced today that it has agreed to acquire the in-space propulsion business (ISP Business) from Aerojet-General Corporation (Aerojet) for approximately $3.5 million in cash and the assumption of certain liabilities.  The agreement includes customary closing conditions and requires the receipt of Federal Trade Commission approval of the transaction.  The transaction is expected to close in the second half of 2004.

In October 2003, Aerojet acquired Atlantic Research Corporation’s propulsion business, including the ISP Business.  As a condition to the Federal Trade Commission’s approval of that acquisition, Aerojet is required to divest the ISP Business.

The ISP business, a leading supplier of commercial and military propulsion products, is the world’s largest producer of bipropellant thrusters.  The ISP business has operations in Niagara Falls, New York, and in Westcott, England.  In 2003, the ISP business had sales of approximately $13 million.

“One of our strategies is to invest in and grow our aerospace and defense business.  This transaction will allow American Pacific to offer a broad array of products and service to aerospace and defense customers.  We believe that by combining our expertise in energetic materials with ISP management’s expertise in the design, development and testing of thrusters, we will be able to accelerate the development of new products for customers in this industry” said John R. Gibson, CEO of American Pacific.

American Pacific is a specialty chemical company that produces products used primarily in space flight and defense systems, automotive airbag safety systems, fire extinguishment systems and explosives. 

Aerojet, a GenCorp Inc. company (NYSE: GY) is a world-recognized aerospace and defense leader principally serving the missile and space propulsion, and defense and armaments markets.

Risk Factors/Forward Looking Statements

Except for the historical information contained herein, this News Release may contain Forward Looking Statements that are subject to risks and uncertainties, including the Company’s ability to profitably integrate, manage and operate new businesses and/or investments competitively, as well as other risks detailed from time to time in the Company’s SEC reports, including the most recent Form 10-K and 10-Q Reports.

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3770 HOWARD HUGHES PARKWAY • SUITE 300 • LAS VEGAS, NV  89109
PHONE (702) 735-2200 • FAX (702) 735-4876

Exhibit 99.1 – Page 1