Scholz said Rohr made the announcement of the merger talks with an unnamed company after speculation was causing volatility in the company's stock prices.
"We felt like we needed to get some facts out on the marketplace," he said.
Rohr designs, integrates, manufactures, sells and supports aircraft engine casings and components for large commercial aircraft. In December 1992, Rohr officials announced they might close the Hagerstown plant to consolidate costs because the industry had taken a downturn.
Later they tried to sell the Showalter Road plant with plans to move Hagerstown's composite bonding operations to Riverside, Calif.
But last year Rohr received a $2 million loan from the state as part of a $5 million plan to purchase new equipment and make renovations to the Hagerstown plant, and to add jobs. The same year it reported sales of $771 million.
Scholz said the discussions about the possible merger are preliminary and could result in no deal. If an agreement is reached, a merger would be subject to the approval of the shareholders of both companies.