U.S.

March 28, 2012

UTC acquistion of Goodrich under review

The acquisition of Goodrich by United Technologies Corp. hit a stumbling block March 27 when the European Commission postponed its deadline for ruling on the bid until Aug. 9.

The commission wants to look at the deal in more detail amidst concerns that it could impact competition for AC power generators and engine controls.

“The aviation equipment industry is already concentrated and is characterized by high barriers to entry,” said Joaquin Almunia, the EU’s antitrust commissioner in a statement. “We need to make sure that competition is preserved and incentives to innovate remain. We must also prevent a rise in input prices for aircraft and engine manufacturers as well as other aviation equipment suppliers.”

Another issue raised relates to Goodrich customers that compete with UTC’s Pratt & Whitney subsidiary.

“The removal of Goodrich as an independent supplier of engine controls and fuel nozzles, particularly for small engines, could result in higher input prices for engine manufacturers competing with Pratt & Whitney,” the commission said. “IN particular, switching supplier could take a long time and be costly for those currently sourcing from Goodrich.”

UTC was not surprised by the commission’s move.

“It is part of the normal regulator review process,” a spokesperson said. “We continue to work with the EU and other regulatory authorities and continue to expect a mid-year closing.”




All of this week's top headlines to your email every Friday.


 
 

 

Headlines March 4, 2015

News: Pentagon: Another BRAC will save money - Pentagon planners have a new pitch to lawmakers skeptical of a fresh round of base closings: We promise we’ll save money this time.   Business: China’s new C919 will begin test flights this year - China’s new superjet will take to the skies for the first time later this...
 
 
Air Force photograph by SrA. Jensen Stidham

World War II pilot reunited with P-47

Air Force photograph by SrA. Jensen Stidham Retired Air National Guard Chief Warrant Officer 2 Robert Hertel, laughs while under the wing of a P-47 Thunderbolt during the Heritage Flight Training and Certification Course Feb. 2...
 
 

News Briefs March 4, 2015

General: 8,500 Islamic State fighters killed in Iraq so far The U.S.-led military coalition in Iraq has killed more than 8,500 Islamic State fighters since its bombing campaign began in August, the top general overseeing the coalition said March 3. Army Gen. Lloyd Austin, the commander of U.S. Central Command, said the Islamic State, which...
 

 
Lockheed Martin photograph

Turning up the heat

Lockheed Martin photograph Lockheed Martin ATHENA laser weapon system defeats a truck target by disabling the engine, demonstrating its military effectiveness against enemy ground vehicles. Latest evolution of Lockheed Martin l...
 
 

USO Visit

Air Force photograph by Jet Fabara Actor Vince Vaughn speaks with Edwards Airmen and 412th Security Forces Squadron members at the base library before introducing an advance screening of his new movie, “Unfinished Business,” at the base theater Feb. 28.
 
 

Sikorsky S-97 RAIDERô team begins final assembly of second aircraft

Sikorsky Aircraft Corp., a subsidiary of United Technologies Corp., announced March 4 the start of final assembly of the second S-97 RAIDERô helicopter at the company’s Development Flight Center. Along with a team of industry suppliers, Sikorsky is developing two RAIDERô prototypes to demonstrate the revolutionary new capabilities in improved maneuverability and flight speed. The...
 




0 Comments


Be the first to comment!


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>