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United Technologies closes Goodrich acquisition; creates new Aerospace Systems business unit

United Technologies Corp. today announced it has completed its acquisition of Goodrich Corporation, 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 & Chief Executive Officer Louis Chênevert. "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 aircraft.

"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 chief executive officer, 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.

"Marshall's global business experience and remarkable record of accomplishment while leading Goodrich will make him a valuable addition to UTC's Board of Directors," Chênevert said. "I look forward to continuing to work with him and to welcoming him to our board."

In addition, effective immediately, Alain Bellemare is appointed President & Chief Executive Officer of UTC Propulsion & Aerospace Systems. Bellemare will have leadership responsibility for Pratt & Whitney and for the newly created UTC Aerospace Systems. The presidents of Pratt & Whitney and of UTC Aerospace System's two businesses – Aircraft Systems and Power, Controls & Sensing Systems – will report to him.

"Alain's strong customer relationships, deep knowledge of the global aerospace markets, and proven leadership capabilities – most recently demonstrated during Goodrich integration planning – will serve him well and enable UTC Propulsion & Aerospace Systems to deliver unmatched value to customers and shareholders," Chênevert said.

Press release issued by United Technologies Corporation on July 26, 2012


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United Technologies Corporation
UTC Aerospace Systems Engine Health Monitoring, Thrust Reversers, Telemetry Equipment, Proximity Sensors, Engine Pylons, Nacelles, Ice Detectors, Cabin Heaters, Fuel Quantity Indicators, Fuel Tanks & Systems, Aircraft Interior Lighting Systems, Aircraft Security Equipment, Aircraft Exterior Lighting Systems, Fuel Control Systems, Engine Controls, Electrical Actuators, Ice Protection/Prevention Equipment, Cargo Systems, Crew Seating, Sensors/Transducers, Avionics Management Systems, Aircraft Structural Components, Aircraft Wheels, Aircraft Landing Gear, Electrical Brakes
UTC Aerospace Systems, Air Management Systems AC/DC Generators, Bleed Air Systems, Mechanical Actuators, Fuel Pumps, Fuel Tanks & Systems, Valves, Automatic Flight Control Systems, Engine Controls, Starters, Pneumatic Systems Equipment, Cooling Systems, Ice Protection/Prevention Equipment, Air Conditioning Equipment, Air Cycle Machines, Gearboxes, Fly-by-Wire Systems, Turbine Engine Starters, Flight Management Systems, Vibration Damping Materials, Fuel Inerting Systems

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