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On September 21, 2011, United Technologies (UTC)
announced an agreement to acquire Goodrich Corporation.
Under the terms of the agreement, Goodrich shareholders will receive
$127.50 in cash for each share of Goodrich common stock they own at the time of the closing of the transaction. This equates to a
total enterprise value of $18.4 billion, including $1.9 billion in net debt to be assumed. The transaction was subject to
customary closing conditions, including regulatory approvals and Goodrich shareholder approval.
The deal closed on July 26, 2012.
Goodrich products include aircraft nacelles and interior systems, actuation and landing systems, and electronic systems.
As a result of the acquisition, Goodrich and Hamilton Sundstrand have been combined to form a new segment named UTC Aerospace Systems.
UTC expects that the increased scale, financial strength and complementary products of the new combined business will strengthen the company's position
in the aerospace and defense industry. Furthermore, UTC expects that the acquisition will enhance its ability to support its customers with more
integrated systems.
Goodrich operates through three principal business segments (prior to the UTC acquisition):
• Actuation and Landing Systems
• Nacelles and Interior Systems
• Electronic Systems
This segment provides systems, components and related services pertaining to aircraft taxi, take-off, flight control, landing and stopping, and engine components, including fuel delivery systems and rotating assemblies.
This segment produces products and provides maintenance, repair and overhaul services associated with aircraft engines, including thrust reversers, cowlings, nozzles and their components, and aircraft interior products, including slides, seats, cargo and lighting systems.
The segment produces a wide array of systems and components that provide flight performance measurements, flight
management, fuel controls, electrical systems, control and safety data, reconnaissance and surveillance systems and precision guidance systems.
Goodrich provides products and services for the entire life cycle of airplane and defense programs, including a significant level of aftermarket
support for the company's key products.
The company's key products include:
• Actuation systems — equipment that utilizes linear, rotary or fly-by-wire actuation to control movement.
Goodrich manufactures a wide-range of actuators including primary and secondary flight controls, helicopter main and tail rotor actuation,
engine and nacelle actuation, utility actuation, precision weapon actuation and land vehicle actuation.
• Landing gear — complete landing gear systems for commercial, general aviation and defense aircraft.
• Aircraft wheels and brakes — aircraft wheels and brakes for a variety of commercial, general aviation and defense applications.
• Nacelles — the structure surrounding an aircraft engine. Components of a nacelle include thrust reversers, inlet and fan cowls, nozzle
assemblies, exhaust systems and other structural components. The company's aerostructures business is one of a few businesses that is a
nacelle integrator, which means that Goodrich has the capabilities to design and manufacture all components of a nacelle, dress the engine
systems and coordinate the installation of the engine and nacelle to the aircraft.
• Interiors — interior products, including evacuation slides, specialty seating, cargo systems, lighting systems, cabin interior furnishings
and cabin management systems.
• Engine control systems — applications for large and small commercial engines, helicopters and all forms of military aircraft. The company's
products include fuel metering controls, fuel pumping systems, electronic controls (software and hardware), variable geometry actuation controls and engine health monitoring systems.
• Intelligence surveillance and reconnaissance systems — high performance custom engineered electronics, optics, shortwave infrared cameras and
arrays, and electro-optical products and services for sophisticated defense, scientific and commercial applications.
• Sensor systems — aircraft and engine sensors that provide critical measurements for flight control, cockpit information and engine control systems.
• Power systems — aircraft electrical power systems for large commercial airplanes, business jets and helicopters. Goodrich supplies these
systems to defense and civil customers around the globe.
Revenues ('11): $8,075M +15.9% |
R&D ('11): $247M +0.0% |
Net Profit ('11): $819M +39.6% |
CAPEX ('11): $318M +43.0% |
Aerospace Sector:Motion & Flow Control; Aircraft Interiors |
Goodrich Products:Actuation systems; Helicopter main and tail rotor actuation; Engine and nacelle actuation; Utility actuation; Precision weapon actuation; Land vehicle actuation; Landing gear; Aircraft wheels and brakes; Nacelles: Thrust reversers, inlet and fan cowls, nozzle assemblies, exhaust systems; Interiors: Evacuation slides, specialty seating, cargo systems, lighting systems, cabin interior furnishings and cabin management systems; Fuel metering controls; Fuel pumping systems; Electronic controls; Variable geometry actuation controls; Engine health monitoring systems; High performance electronics, optics, shortwave infrared cameras and arrays; Electro-optical products and services; Aircraft and engine sensors; Aircraft electrical power systems. |
Goodrich's Major DoD Defense Programs:
| C-17
| C-130
| F/A-18E/F
| F-22 Raptor
| F-35 Lightning II
| HH-60M
| MH-60R
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Goodrich's Commercial Programs:| Airbus: A320 Series, A330, A340, A350XWB, A380 | |
| Sales 2007-2011 | Net Income 2007-2011 | R&D Spending 2007-2011 | # Employees 2007-2011 |
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