United Technologies acquires Goodrich Corp. in $18.4 billion mega-deal
Charlotte, N.C-based aerospace firm makes aircraft landing gears, wheels and brakes
mergers and acquisitions
HARTFORD—United Technologies Corp. has acquired aerospace firm Goodrich Corp. for $18.4 billion, complementing the company’s already budding aerospace division that includes jet engine maker Pratt & Whittney.
Goodrich is a global supplier of systems and services to the aerospace and defense industry, whose products include aircraft landing gear, aircraft wheels and brakes.
It employs about 27,000 people worldwide and forecasts more than $8-billion in revenue this year.
“Goodrich delivers on all of our acquisition criteria. It is strategic to our core, has great technology and people and strengthens our position in growth markets,” said Louis Chênevert, United Technologies CEO.
United has also reaffirmed its expectations for 2011 revenues of $58 billion.
The Hartford, Conn.-based company’s holdings include Pratt &Whittney, Sikorsky helicopters, Carrier heating and air conditioning, Hamilton Sundstrand aerospace systems, Otis elevators and UTC Power fuel cells.
It employs about 210,000 people and has been ranked the 16th largest manufacturer in the U.S. by Industry Week.