Goodrich Acquires Crompton Technology
CHARLOTTE, N.C., June 10, 2010 — Goodrich Corp. has acquired UK-based Crompton Technology Group Ltd. (CTG), a maker of advanced carbon fiber composite products for the aerospace, defense, advanced vehicle and clean energy markets. The transaction closed yesterday; terms were not disclosed.
CTG, which was privately held, employs approximately 150 at its Banbury, England, facility. CTG's products are used on a number of aerospace platforms in production and development. Primary aerospace products include transmission shafts for flight control and power drive systems as well as specialized pipes used in fuel systems; other products include flywheels and accumulators for the clean energy and advanced vehicle markets. CTG will become part of Goodrich's Actuation Systems business.
"CTG's innovative composite design, engineering and manufacturing experience has positioned it for significant future growth as aircraft currently in development transition into production," said Jack Carmola, segment president, Actuation and Landing Systems at Goodrich. "This acquisition allows Goodrich to benefit from this expected growth and to expand our composite capabilities into a broader range of Goodrich systems. We intend to leverage CTG's proprietary technology across a number of Goodrich products to benefit commercial and military customers worldwide."
Goodrich supplies systems and services to the aerospace, defense and homeland security markets. Its subsidiaries include Sensors Unlimited Inc., a manufacturer of indium gallium arsenide (InGaAs) photodiodes, arrays, and cameras for near-infrared (NIR) and shortwave infrared (SWIR) imaging applications, which is part of Goodrich ISR Systems.
For more information, visit: www.goodrich.com
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