The Boeing Co. said it reached an agreement to sell its Rocketdyne Propulsion & Power business unit to Pratt & Whitney for about $700 million in cash. Rocketdyne is primarily a rocket engine developer and builder and provides booster engines for the Space Shuttle and the Delta family of expendable launch vehicles, as well as propulsion systems for missile defense systems. The divestiture includes sites and assets in California, Alabama, Mississippi and Florida. Boeing said it will continue to build launch systems and added that the divestiture would enable the company to better serve its customers.