Aerojet and Carmichael Water District Reach Agreement
This agreement establishes a plan for Aerojet to provide advance funding for design and construction of extraction wells and their necessary pipelines, and associated groundwater treatment plants. The agreement will expedite the construction of the remediation work and assures that CWD's water supplies remain free of NDMA. Further, the agreement ensures that no costs associated with remediation construction will be passed along to CWD customers.
"The collaboration between Aerojet and Carmichael Water is a reflection of our joint commitment to CWD's customers that they will continue to have safe and clean water," said Chris Conley, vice president for Environmental, Health and Safety for Aerojet.
"Working together allows the partnership to focus on the remediation effort instead of dispute resolution. The result of this cooperation will be a clean groundwater supply at no additional cost to the CWD customers," said Steve Nugent, general manager Carmichael Water District.
Aerojet, a GenCorp Inc. (NYSE: GY) company, is a world-recognized aerospace and defense leader principally serving the missile and space propulsion, and defense and armaments markets. GenCorp is a leading technology-based manufacturer of aerospace and defense products and systems with a real estate business segment that includes activities related to the development, sale and leasing of the Company's real estate assets. Additional information about Aerojet and GenCorp can be obtained by visiting the Companies' web sites at http://www.Aerojet.com and http://www.GenCorp.com .
Carmichael Water District has been serving drinking water to the citizens of Carmichael since 1916. More information on CWD can be obtained by visiting the District's web site at http://www.carmichaelwd.org .
SOURCE GenCorp Inc.
CONTACT: Linda Cutler of GenCorp, +1-916-351-8650, or email@example.com; or Steve Nugent of Carmichael Water District, +1-916-483-2452, or SteveN@carmichaelwd.org
Web site: http://www.gencorp.com
Web site: http://www.Aerojet.com
Web site: http://www.GenCorp.com
08/02/2005 09:00 EDT http://www.prnewswire.com