Business

July 27, 2012

United Technologies closes Goodrich acquisition

United Technologies Corp. announced July 26 it has completed its acquisition of Goodrich Corporation, marking a major milestone for the company and strengthening its position in the commercial aerospace industry.

Goodrich will be combined with Hamilton Sundstrand to create the new UTC Aerospace Systems business unit, headquartered in Charlotte, N.C.

The increased scale, financial strength and complementary products resulting from the Goodrich acquisition significantly advance United Technologies’ aerospace leadership at a time when the commercial aerospace industry is poised for growth.

“Throughout the history of our company, we have made many acquisitions, but Goodrich is among the few that stand out as truly transformational,” said UTC Chairman and CEO Louis Chenevert. “Adding the talented people, great technology and culture of innovation that has defined Goodrich truly positions us to better serve our aerospace customers with more advanced, integrated solutions for the next generation aircraft.

“The addition of Goodrich, along with our recent acquisition of a majority share in International Aero Engines, greatly advances our strategy of focusing on our core businesses and strengthens our position in the growing commercial aerospace market,” he continued.

UTC also announced that Marshall Larsen, formerly Goodrich’s chairman and chief executive officer, is slated to join the United Technologies board of directors. Larsen is expected to be formally elected at the next scheduled meeting of UTC’s board on Sept. 12, 2012.

“Marshall’s global business experience and remarkable record of accomplishment while leading Goodrich will make him a valuable addition to UTC’s board of directors,” Chenevert said. “I look forward to continuing to work with him and to welcoming him to our board.”

In addition, effective immediately, Alain Bellemare is appointed president and CEO of UTC Propulsion & Aerospace Systems. Bellemare will have leadership responsibility for Pratt & Whitney and for the newly created UTC Aerospace Systems. The presidents of Pratt & Whitney and of UTC Aerospace System’s two businesses – Aircraft Systems and Power, Controls & Sensing Systems – will report to him.

“Alain’s strong customer relationships, deep knowledge of the global aerospace markets, and proven leadership capabilities – most recently demonstrated during Goodrich integration planning – will serve him well and enable UTC Propulsion & Aerospace Systems to deliver unmatched value to customers and shareholders,” Chenevert said.




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


 
 

 

Headlines March 30, 2015

News: Pentagon chief mulls easing military enlistment standards - Defense Secretary Ash Carter is considering easing some military enlistment standards as part of a broader set of initiatives to better attract and keep quality service members and civilians across the Defense Department.   Business: Lockheed pays $2 million to settle government overbilling charges - Lockheed Martin Corpor...
 
 

News Briefs March 30, 2015

Landing mishap for military chopper; two aboard unhurt Two Navy officers were unhurt after their helicopter rolled on its side while landing in the Florida Panhandle. The mishap happened the night of March 27 at a Navy landing site in Pensacola, Fla. The Pensacola News Journal reports a pilot instructor and a student were able...
 
 
Air Force photograph by TSgt. Matt Hecht

Laser-based aircraft countermeasure provides ‘unlimited rounds’ against MANPADS

Air Force photograph by TSgt. Matt Hecht A U.S. Army AH-64 Apache attack helicopter prepares to depart Bagram Air Field, Afghanistan, on Jan 7, 2012. The Apache conducts distributed operations, precision strikes against relocat...
 

 

Navy, Air Force advocate for modernizing combat aviation

Top Navy and Air Force officials today told the House Armed Services subcommittee on tactical air and land forces the president’s budget request for fiscal year 2016 will support modernizing combat aviation programs. Cavy Vice Adm. Paul A. Grosklags, principal military deputy to the assistant secretary of the Navy for research, development and acquisitions; Air...
 
 

Raytheon wins $46 million contract for South Korean Global Hawk ground stations

Raytheon has been awarded a contract valued at up to $45.7 million by Northrop Grumman Aerospace Systems for ground segments in support of four Global Hawk unmanned aircraft systems recently purchased by the Republic of Korea. Under this contract, Raytheon will deliver one building-based and one mobile ground segment to locations in South Korea. Work...
 
 
Air Force photograph by SrA. Victor J. Caputo

McConnell community marks B-29 rollout

Air Force photograph by SrA. Victor J. Caputo A B-29 Superfortress aircraft, named Doc after its nose art, sit on the flightline March 23, 2015, in Wichita, Kan. Doc will be one of two Superfortresses in the world capable of fl...
 




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>