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Goodrich Corporation Completes Acquisition of Skyline Industries, Inc
• Acquisition provides military helicopter seating market position and capabilities Goodrich Corporation announced the acquisition of Skyline Industries, Inc. (Skyline), a leading manufacturer of lightweight crashworthy military helicopter seats and helicopter floor armor. Terms of the acquisition were not disclosed. Skyline employs around 40 people at its Fort Worth, Texas facility. Major customers include the U.S. Department of Defense, Eurocopter, Bell Helicopter and Boeing. The company began operations in 1960, and in 2007 generated approximately $7 million in revenue. “Skyline’s proven military helicopter seating technology is a great complement to Goodrich’s strong fixed wing aircraft seating capabilities. This acquisition provides Goodrich with additional presence in the high-growth helicopter market and is expected to be accretive to earnings in 2008,” said Cindy Egnotovich, Segment President, Nacelles and Interior Systems at Goodrich. “These technically advanced, reliable seats now join advanced products such as rescue hoists, vehicle health management systems, FADECs and threat detection systems as part of our broad military helicopter portfolio.” Skyline will become part of Goodrich’s Interiors business. Goodrich Corporation, a Fortune 500 company, is a global supplier of systems and services to aerospace, defense and homeland security markets. With one of the most strategically diversified portfolios of products in the industry, Goodrich serves a global customer base with significant worldwide manufacturing and service facilities. For more information visit http://www.goodrich.com. Certain statements made in this release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the company's future plans, objectives, and expected performance. Specifically, statements that are not historical facts, including statements accompanied by words such as "believe," "expect," "anticipate," "intend," "estimate," or "plan," are intended to identify forward-looking statements and convey the uncertainty of future events or outcomes. The company cautions readers that any such forward-looking statements are based on assumptions that the company believes are reasonable, but are subject to a wide range of risks, and actual results may differ materially. Important factors that could cause actual results to differ include, but are not limited to: the overall demand for helicopters; the demand for helicopters containing our products; and the ability to integrate successfully Skyline's business. Further information regarding the factors that could cause actual results to differ materially from projected results can be found in the company's filings with the Securities and Exchange Commission, including in the company's Annual Report on Form 10-K for the year ended December 31, 2006 and the company's quarterly report on Form 10-Q for the quarter ended September 30, 2007. The company cautions you not to place undue reliance on the forward- looking statements contained in this release, which speak only as of the date on which such statements were made. The company undertakes no obligation to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date on which such statements were made or to reflect the occurrence of unanticipated events. Goodrich Corporation operates through its divisions and as a parent company for its subsidiaries, one or more of which may be referred to as "Goodrich Corporation" in this press release. |
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