Goodrich, a Subsidiary of UTC
Goodrich was an aerospace manufacturer before becoming a subsidiary of the multinational conglomerate, United Technologies Corporation, UTC. Goodrich was originally founded as the B.F. Goodrich Company in 1870 in Akron, Ohio. The company was founded by Dr. Benjamin Franklin Goodrich as a manufacturer of tires and rubber material. Over the years and different ownership, Goodrich expanded its product offering. Before the company was acquired, Goodrich offered actuation systems, aero structures, aircraft wheels and brakes, electrical power systems, engine components, engine control systems, engineered polymer products, ISR systems, undercarriage/landing gear, sensors and integrated systems. One of their largest business transactions before becoming a part of UTC was opening a 13-acre manufacturing site in Rzezow, Poland. The manufacturing facility was an investment that cost approximately US $50 million dollars. The facility was an investment made to support Goodrich’s landing gear business, with a possibility to support other Goodrich businesses. UTC completed the $18.4 billion acquisition, including $1.9 billion in liabilities, in July 2012. Goodrich stock holders were paid $127.50 for each share. UTC first announced the proposal of the acquisition in September 2011. The ending settlement and agreement was for Goodrich and the existing UTC subsidiary, Hamilton Sundstrand, to be combined and operate as one unit. The acquisition of Goodrich has been one of UTC’s largest investments. Back when the acquisition was made, it was estimated that UTC would generate $350 million to $400 million a year in cost savings. At the time of the merger, UTC had to cut back on in spending to pay for the debt it acquired. The long- term prediction for the company was for UTC to have an even stronger position in aerospace programs and future aftermarket revenue. ASAP Semiconductor is a leading distributor of all types of connectors, heat sinks, cable applications, and various components used in aerospace industry. Through our proprietary website JustConnectors.com, get GOODRICH Corporation connector parts and current UTC product lines
for use in various applications that will suit your needs. Please contact us today at email@example.com if you have a demand for any of these connector parts or call us toll free at (714) 705 4780 and one of our knowledgeable sales person will assist you.
Posted on June 23, 2014