United Technologies Corp. announced it has completed its
acquisition of Goodrich Corp., 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
“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 CEO, 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.