UTC to Acquire Goodrich
Sikorsky parent company United Technologies Corp. (UTC) will pay $18.4 billion to acquire Goodrich, a move the company hopes will strengthen its position in the aerospace and defense sectors, the companies announced Wednesday.
UTC, which is also the parent company of jet engine manufacturer Pratt & Whitney, will also assume $1.9 billion in Goodrich’s debt.
“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 United Technologies Chairman and CEO Louis Chênevert. “We are very excited to bring the capabilities of two great companies together, making us more competitive and better able to provide value to both customers and shareholders.”
UTC said Goodrich is well positioned for future growth based on its increased content on leading new commercial and military aircraft. The company’s broad position across many platforms, combined with increased air-framer production rates, will drive sustainable long-term aftermarket growth.