Friday, December 7, 2012

DOJ objects to sale

HARTFORD, Conn. -- The objection of the Justice Department prompted United Technologies and TransDigm Group Inc. to terminate the previously announced sale of the Goodrich Corp. pump and engine control systems business to TransDigm of Cleveland. Sale of the pump and engine control systems unit is one of the divestitures required by regulatory authorities as a condition of UTC's acquisition of Goodrich. UTC intends to comply with its obligation to sell this business to a buyer acceptable to the U.S. Department of Justice and European Commission. (Source: PRNewswire, 12/06/12) Gulf Coast note: The Goodrich Alabama Service Center is in Foley, Ala. Rocketdyne, a United Technologies company being sold to GenCorp, assembles and tests rockets at Stennis Space Center, Miss. Previous