Gencorp

GenCorp Inc., citing environmental problems, said Monday that it no longer plans to sell its struggling Aerojet division, which employs 3,000 people in California. The company, which announced efforts to shed the division last December, said the problems prevented GenCorp from getting a price that would provide its stockholders with "sufficient value versus other alternatives." GenCorp, based in Fairlawn, Ohio, did not disclose what price it sought.

It's probably safe to assume that James S. Marlen didn't become chief executive of Ameron Inc. for the glamour and romance. A self-described "world leader in pipe technology," Pasadena-based Ameron makes more than 30 kinds of giant fiberglass, concrete and steel pipes that carry oil, water or anything else that needs to get from Point A to Point B in quantity. The firm also makes protective epoxy and polyurethane coatings used on large structures like office towers, ships and bridges.

The evidence is growing that GenCorp Inc. plans to rid itself of Aerojet, its respected but ailing division that makes military electronics in Azusa and rocket motors in Sacramento. GenCorp--which also makes automotive parts, Penn tennis balls and specialty plastics and wall coverings--said this summer that it was considering whether to keep Aerojet, place it in a joint venture or some other alliance, or sell the division. GenCorp plans to decide by year's end.

In a development of serious concern to some of the nation's largest companies, Aerojet-General Corp. has lost a sprawling lawsuit in which it sought to force its insurance carriers to pay environmental cleanup costs estimated at more than $150 million. Aerojet does not contest that wastes from its rocket-engine manufacturing and testing operations contaminated ground water at a site near its Sacramento headquarters during the 1950s, '60s and '70s.

Aerojet Electronic Systems, the Azusa-based unit of GenCorp, said Wednesday that it was selected by the Army as prime contractor for the "sense and destroy armor" munition, an anti-tank weapon under development since 1986. The company declined to estimate potential revenues from the program, but in 1986 the value was put at $1 billion. At that time, executives said each munition unit would cost $3,000.

Yvonne Ulrich has been named winner of the Harvey Mudd College Aerojet Scholarship. Ulrich, a freshman, will receive a $5,000 scholarship from Aerojet Electronics Systems Division, a subsidiary of GenCorp Inc. She plans to major in biology.