United Technologies Corp. Completes Acquisition of Goodrich
August 27, 2012
CHARLOTTE, N.C.– United Technologies Corp. announces it has completed its acquisition of Goodrich Corp., 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," says UTC Chairman and Chief Executive Officer Louis Chenevert. "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.”
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.
In addition, effective immediately, Alain Bellemare is appointed president and CEO 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.