Rocket Lab USA officially opened the Company’s new Engine Development Center in Long Beach, California. The 144,000+ square foot advanced manufacturing complex will support the high-rate production of Rocket Lab’s 3D printed Rutherford engine, as well development and production for the new Archimedes engine that will power the Company’s new medium-lift rocket, Neutron. The facility was formerly Virgin Orbit’s headquarters and factory for the Launcher One vehicle. Rocket Lab took over the lease for the facility and acquired the factory’s production assets, machinery, and equipment in May 2023 for $16.1 million, generating significant savings for the Neutron’s production program.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on RKLB:
- Musk’s SpaceX wins U.S. Space Force deal for Starshield, Bloomberg reports
- Rocket Lab price target lowered to $8.00 from $9.50 at TD Cowen
- Why Did Rocket Lab (NASDAQ:RKLB) Cut its Q3 Revenue Projection?
- Rocket Lab lowers Q3 revenue view to $66M-$68M from $73M-$77M
- Rocket Lab price target lowered to $5 from $6.75 at Wells Fargo