Goodrich Corporation Completes Acquisition of DeCrane Cabin Management Assets
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CHARLOTTE, N.C., Sept. 22, 2010 -- Goodrich Corporation (NYSE: GR) has completed the acquisition of the Cabin Management assets of DeCrane Holdings Co., a leading provider of seating, furniture, veneers and cabin management systems for the business jet market. The purchase price was approximately $280 million.
Goodrich had announced its intentions to acquire DeCrane's Cabin Management assets on August 3, 2010. Details on the transaction can be found on the Goodrich press release issued that day; click here to read in its entirety.
DeCrane Cabin Management employs approximately 850 people at six facilities located throughout the U.S. Major customers include business jet manufacturers such as Bombardier, Cessna, Dassault, Embraer, Gulfstream and Hawker Beechcraft. Primary products include aircraft seats, molded composites, custom cabinetry, custom veneers and furniture, cabin management systems and inflight entertainment systems.
The Cabin Management assets become part of Goodrich's Interiors Strategic Business Unit, within its Nacelles and Interior 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 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 - Nacelles and Interior Systems
CONTACT:
Media Contact:
Lisa Bottle,
+1-704-423-7060;
or
Investor Relations:
Paul Gifford,
+1-704-423-5517
Web Site: www.goodrich.com
