Ed Forman, Martin Summerfield and Andrew G. Haley founded the Aerojet Engineering Corporation.

Some aspects of the early operation of the company were described by von Kármán in his autobiography:

On March 19, 1942, Haley obtained our incorporation papers and the Aerojet Engineering Corporation was launched. I was President; Malina was Treasurer; and Haley was Secretary. We had three vice-presidents: Parsons, Summerfield, and Forman. We issued stock to ourselves, and for a brief time Haley seemed to own the entire corporation because, being the only man in the group with cash, he actually put up all the initial capital. We opened offices on East Colorado Street in Pasadena ... we moved to ... 285 West Colorado Street...Thus began ... the world's largest manufacturer of rockets and propellants. In only twenty years it was to grow from six people with a capitalization of $1200 into a 700-million-dollar a year business, a staff of nearly 34,000, and a key role in the modern defense picture of the United States.

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