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 August 28, 2014

News: After F-15 jet crash in Virginia, rescue helicopters search for pilot - Helicopters are searching for an Air National Guard pilot after his F-15 jet crashed in the mountains of Virginia this morning, military officials said.   Business: U.S. Air Force 3DELRR contract expected soon - The U.S. Air Force could award the contract for its...
 
 

News Briefs August 28, 2014

Russian directing new offensive in Ukraine The Obama administration believes Russia is leading a new military counteroffensive in Ukraine. U.S. State Department spokeswoman Jen Psaki says Russia has sent additional columns of tanks and armored vehicles into its neighbor’s territory. She says the incursions suggest a ìRussian-directed counteroffensive is likely underway in the contested e...
 
 
LM-C5

Double Deuce

A U.S. Air Force crew ferried the 22nd C-5M Super Galaxy from the Lockheed Martin facilities in Marietta, Ga., Aug. 25. Aircraft 86-0011 was ferried by a crew led by Maj. Gen. Dwyer L. Dennis, Director, Global Reach Programs, O...
 

 
Northrop Grumman photograph

First ever RQ-4 Global Hawk hits 100th flight on NASA mission

Northrop Grumman photograph A historical look at the first Global Hawk (AV1) during its maiden flight over Edwards Air Force Base, Calif., on Feb. 28, 1998. AV1 has made history again with its 100th flight in support of NASA en...
 
 

Northrop Grumman’s CIRCM system completes U.S. Army flight testing

Northrop Grumman’s Common Infrared Countermeasures system recently completed another round of U.S. Army testing by demonstrating its capabilities on a UH-60M Black Hawk helicopter. The flight test was conducted at Redstone Arsenal in Huntsville, Ala., by the Redstone Test Center. The Northrop Grumman CIRCM system was subjected to rigorous conditions over a six-week period, after...
 
 
NASA photograph by David Olive

NASA completes successful battery of tests on composite cryotank

https://www.youtube.com/embed/qkGI6JeNY0E?enablejsapi=1&rel=0 NASA photograph by David Olive One of the largest composite cryotanks ever built recently completed a battery of tests at NASA’s Marshall Space Flight Cen...
 




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>