Goodrich declared that it has signed an acquisition agreement with SSCP Aero Holdings S.C.A. to purchase Microtecnica, a company that produces flight control actuation systems for helicopter, for a total value of approximately $462 million.
Goodrich hopes to complete the acquisition during the Q2 of 2011 after obtaining the final approval from the government. The transaction was aimed at improving the company’s position in the helicopter market.
The President, Chairman and Chief Executive Officer of Goodrich, Marshall Larsen stated that the acquisition will increase the company’s market exposure in missile actuation, military and commercial helicopters, commercial business, regional and general aviation aircraft. He also added that the company’s flight control actuation business will stand to gain as a result of the engineering resources and manufacturing capacity of Microtecnica.
The Chief executive officer of Microtecnica, Alan Bean stated that Microtecnica’s knowledge in flight controls and thermal and environmental control systems will enable Goodrich to become a global leader in defense and aerospace.
Source: http://www.goodrich.com/