Wednesday, October 17, 2012

Safran to buy Goodrich activity

Reuters reports that French aerospace company Safran said it will buy the electrical power systems activities of parts maker Goodrich for an estimated $401 million. Safran officials estimate the Goodrich operations will generate 2012 revenue of more than $200 million. The acquisition comes less than three months after Hartford, Conn.-based United Technologies completed its $16.5 billion purchase of Goodrich Corp. Some 750 Foley employees, who make and repair engine nacelles, are not impacted by the acquisition. (Source: Mobile Press-Register, 10/16/12)