Goodrich Corporation Completes Acquisition of Microtecnica

CHARLOTTE, N.C., May 12, 2011 /PRNewswire/ -- Goodrich Corporation (NYSE: GR) has completed the acquisition of Microtecnica S.r.l.  Microtecnica is a leading provider of flight control actuation systems for helicopter, regional and business aircraft, missile actuation, and aircraft thermal and environmental control systems.  Total cash consideration for the acquisition was approximately 331 million Euros ($478 million at an exchange rate of 1.44).

Goodrich had announced its intentions to acquire Microtecnica from Stirling Square Capital Partners on April 1, 2011. Details on the transaction can be found on the Goodrich press release issued that day; click here to read in its entirety.

Microtecnica employs approximately 700 people at facilities located in Turin, Luserna San Giovanni and Brugherio, Italy and Bristol, UK.  Major customers include AgustaWestland, Alenia, Hamilton Sundstrand, Avio, Bombardier and Eurocopter.  Microtecnica will become part of Goodrich's Actuation Systems business, within its Actuation and Landing Systems segment.  

Goodrich Corporation, a Fortune 500 company, is a global supplier of systems and services to aerospace, defense and homeland security markets.  With one of the most strategically diversified portfolios of products in the industry, Goodrich serves a global customer base with significant worldwide manufacturing and service facilities.  For more information visit http://www.goodrich.com.

Goodrich Corporation operates through its divisions and as a parent company for its subsidiaries, one or more of which may be referred to as "Goodrich Corporation" in this press release.

SOURCE Goodrich Corporation; GR - Actuation and Landing Systems