8-K

TABLE OF CONTENTS

Exhibit 99.1 - GenCorp's Press Release/Nov 23 2001

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) November 23, 2001

GenCorp Inc. (Exact Name of Registrant as Specified in Charter)

Ohio	1-01520	34-0244000
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

Highway 50 and Aerojet Road, Rancho Cordova, California	95670
(Address of Principal Executive Offices)	(Zip Code)
P.O. Box 537012, Sacramento, California	95853-7012
(Mailing Address)	(Zip Code)

Registrant’s telephone number, including area code (916) 355-4000

Item 5. Other Events

Attached hereto as Exhibit 99.1, and incorporated herein by this reference is the text of the registrant’s press release which was issued on November 23, 2001.

In a GenCorp Inc. press release dated November 23, 2001, GenCorp Inc. announced a definitive agreement to re-acquire a 40% ownership position in Aerojet Fine Chemicals from NextPharma Technologies USA (NextPharma) for approximately $13 million in cash, the return of GenCorp’s interest in NextPharma’s parent and a provision for a contingent payment of up to $11.8 million in the event of a disposition of Aerojet Fine Chemicals within the next two years. NextPharma acquired its 40% ownership position in Aerojet Fine Chemicals in June 2000.

Item 7. Exhibits

Table		Exhibit
Item No.	Exhibit Description	Number
99	GenCorp Inc.’s press release dated November 23, 2001, which announced a definitive agreement to re-acquire a 40% ownership position in Aerojet Fine Chemicals from NextPharma Technologies USA		99.1

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, thereunto duly authorized.

GENCORP INC.
By:	/s/ Terry L. Hall
Name:	Terry L. Hall
Title:	Senior Vice President and Chief Operating Officer

Dated: November 26, 2001

EX-99.1 3 l91576aex99-1.htm EXHIBIT 99.1 - GENCORP'S PRESS RELEASE/NOV 23 2001

EXHIBIT 99.1

[Gencorp Logo] Rosemary B. Younts
Sr. VP, Communications
(916) 351-8650
(916) 804-7820

News Release

Yasmin Seyal
Sr. VP, Finance
(916) 351-8585

FOR IMMEDIATE RELEASE

GenCorp Regains 100% Ownership of Aerojet Fine Chemicals

     Sacramento, California, November 23, 2001 – GenCorp (NYSE: GY) today announced a definitive agreement to re-acquire a 40% ownership position in Aerojet Fine Chemicals from NextPharma Technologies USA (NextPharma) for approximately $13 million in cash and the return of GenCorp’s interest in NextPharma’s parent. The acquisition agreement also contains a provision for a contingent payment of up to $11.8 million in the event of a disposition of Aerojet Fine Chemicals within the next two years. NextPharma acquired its 40% ownership position in Aerojet Fine Chemicals in June 2000. In connection with this transaction, GenCorp will record an unusual charge of approximately $1 million upon closing. The transaction is subject to customary closing conditions, including clearance under the Hart-Scott-Rodino Act.

     “Changes in the pharmaceutical industry and changes in NextPharma’s strategy to focus its efforts in the pharmaceutical final product market segment drove our decision to regain 100% equity ownership in Aerojet Fine Chemicals,” said Bob Wolfe,

GenCorp Chairman and CEO. “Aerojet Fine Chemicals’ expertise lies in the manufacture of highly specialized registered intermediate and Active Pharmaceutical Ingredients (APIs) and not in the final end product. Concentrating on what we do best is key to the growth and success of the business,” he said.

     Aerojet Fine Chemicals will now have responsibility for sales, marketing and customer interface. “Ensuring an orderly transition for our customers and meeting their requirements seamlessly is our highest priority,” said Aerojet Fine Chemicals President Joseph Carleone.

     Aerojet Fine Chemicals has been a key supplier on a variety of breakthrough new drug compounds approved by the U.S. Food and Drug Administration for use in treating such diseases as brain cancer, AIDS, epilepsy, arthritis and flu. Aerojet Fine Chemicals is located in state-of-the-art facilities in Sacramento that include a commercial scale Simulated Moving Bed (SMB) facility for purification of pharmaceutical ingredients, and provide capability for a full range of services to customers - from lab scale evaluations to pilot scale to commercial scale production.

     Aerojet Fine Chemicals is a business of GenCorp, a technology-based manufacturer with leading positions in the aerospace and defense, pharmaceutical fine chemical and automotive industries. For more information on Aerojet Fine Chemicals and GenCorp, visit the Company’s Web site at www.GenCorp.com.

###

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EX-99.1

Exhibit 99.1 - GenCorp's Press Release/Nov 23 2001