Steel Partners II continues to build stake in GenCorp

By Lisa Kerner

Charlotte, N.C., Aug. 3 - GenCorp. Inc. investors led by Steel Partners II bought 1,031,300 shares of the company's stock between July 27 and Aug. 2 priced from $11.86 to $12.46 each.

The transactions were reported in a schedule 13D filing with the Securities and Exchange Commission.

Steel Partners owns 7,226,354 shares, or 12.8%, of the Rancho Cordova, Calif., defense products manufacturer.

On July 18, the shareholder entered into a purchase trading plan agreement with broker-dealer Mutual Securities, Inc. that allows Steel Partners II to buy GenCorp shares in compliance with all applicable laws, including section 10(b) of the Securities Exchange Act of 1934.

As previously reported, Steel Partners had a 9.9% stake in GenCorp at that time. On March 5, Steel Partners reported owning 5,565,054 shares, or 9.2%, of GenCorp.

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