FEDS OK ROCKETDYNE SALE FTC DECISION CLEARS WAY FOR NEW OWNER.

Byline: Lisa Friedman Washington Bureau

WASHINGTON - The federal government will not stand in the way of the Boeing Co.'s $700 million sale of its Rocketdyne Propulsion & Power business to a Connecticut rocket engine manufacturer, the new owners confirmed Tuesday.

The decision by the Federal Trade Commission clears the way for the official transfer of ownership to United Technology's Pratt & Whitney Space Propulsion unit.

Rocketdyne and Pratt & Whitney officials said they were pleased with the ruling and said they expect the sale to become final by next week.

``We didn't anticipate any issues, so it's good news,'' said Pratt & Whitney spokesman Dan Coloum.

``It's great news,'' said Rocketdyne spokesman John Mitchell.

The company has not announced any staffing or operational cuts at Rocketdyne's San Fernando Valley area facilities, but neither has it given any assurances that jobs will stay.

Rep. Brad Sherman, D-Sherman Oaks, said he hopes to see United Technologies become active in the community and increase jobs in the region.

``We welcome the new employer,'' Sherman said. ``We hope and expect that the work being done will stay in the Valley, and that United Technologies will move additional work to the facility.''

About 1,200 people work at the Rocketdyne manufacturing facility in Canoga Park, and 1,300 at the Chatsworth administrative headquarters. About 100 employees work at the Santa Susana Field Laboratory.

The sale also includes sites in Alabama, Florida and Mississippi.

United Technologies is a $31 billion company whose holdings also include Hamilton Sundstrand aerospace systems and industrial products; Otis elevators and escalators; Sikorsky helicopters; and UTC Power fuel cells.

Lisa Friedman, [phone]

lisa.friedman(at)langnews.com