Operating income increased 3 percent to $122 million in a challenging business environment as margins increased to 17.7 percent – again the highest in the company.
Consolidations initiated to improve efficiency and customer service are under way at three manufacturing locations and several warehouses.
Lean manufacturing techniques introduced throughout the segment combined with reorganizations led to cost reductions of $8 million.
New products were introduced at Stemco, Quincy and Garlock.
Goodrich’s competencies are being extended throughout the business to further drive value, quality and innovation.
