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Goodrich Corporation
Type Public (NYSE: GR)
Founded 1870 in Akron, Ohio
Headquarters Charlotte, North Carolina
Key people Marshall Larsen, CEO & Chairman
Industry Aerospace
Products Nacelles and Interior Systems
Actuation and Landing Systems
Electronic Systems
Website http://www.goodrich.com

Goodrich Corporation (formerly the B. A public company usually refers to a company that is permitted to offer its registered securities ( Stock, bonds, etc The New York Stock Exchange ( NYSE) is a Stock exchange based in New York City. Akron is a city in the US state of Ohio and the County seat of Summit County. North Carolina ( is a state located on the Atlantic Seaboard in the southeastern United States For other uses of this term see Industry (disambiguation An industry (from Latin industrius, "diligent industrious" This article is about the field of research and industry for the corporation see The Aerospace Corporation Aerospace comprises the In Marketing, a product is anything that can be offered to a Market that might satisfy a want or need A website (alternatively web site or Web site, a back-construction from the Proper noun World Wide Web) is a collection of Web pages F. Goodrich Company) NYSE: GR, is an American aerospace manufacturing company based in Charlotte, North Carolina. The New York Stock Exchange ( NYSE) is a Stock exchange based in New York City. The United States of America —commonly referred to as the This article is about the field of research and industry for the corporation see The Aerospace Corporation Aerospace comprises the Founded in Akron, Ohio in 1870 as Goodrich, Tew & Co. Akron is a city in the US state of Ohio and the County seat of Summit County. Ohio ( is a Midwestern state of the United States. As part of the Great Lakes region, Ohio has long been a cultural and geographical crossroads by Dr. Benjamin Franklin Goodrich. Benjamin Franklin Goodrich ( November 4, 1841 - August 3, 1888) was an American industrialist in the rubber industry The company name was changed to the "B. F. Goodrich Company" in 1880, to BFGoodrich in the 1980s, and to "Goodrich Corporation" in 2001.

The company has a history of innovation. As B. F. Goodrich, the company became one of the largest tire and rubber manufacturers in the world, helped in part by the 1986 merger with Uniroyal (formerly the United States Rubber Company). The United States Rubber Company was founded in Naugatuck Connecticut in 1892 This product line was sold to Michelin in 1988, and the company acquired Rohr (1997), Coltec Industries, and TRW Aeronautical Systems (formerly Lucas Aerospace) in 2002. Michelin (full name SCA Compagnie Générale des Établissements Michelin) ( based in Clermont-Ferrand in the Auvergne Région Rohr Inc, formerly Rohr Industries, is an Aerospace manufacturing company based in Chula Vista, California, south of San Diego. The sale of the specialty chemicals division and subsequent change to the current name completed the transformation. In 2006, company sales were $5. 8 billion dollars, of which 18%, 16% and 12% of total revenues were accounted for by the U. S. government, Airbus and Boeing, repectively. [1]

In 1936 the company entered the Mexican market in a joint venture with Euzkadi (Now part of Continental AG) (named:Goodrich-Euzkadi). Continental AG ( internally often called Conti for short is a worldwide leading manufacturer of Tires Brake systems Vehicle stability The Troy, Ohio plant was purchased in 1946 from WACO. Troy is a city in Miami County, Ohio, United States. The population was 21999 at the 2000 census. Weaver Aircraft Company of Ohio ( WACO) was an aircraft company located in Troy, Ohio, USA. Since then, Goodrich has manufactured wheels and brakes for a variety of aircraft. Among these are commercial, military, regional, and business programs. This successful operation lies at the core of Goodrich's business. Competitors include the aerostructures divisions of companies such as Honeywell, Messier-Bugatti, Aircraft Braking Systems, (Howmet/Huck) and SNECMA. An aerostructure is a component of an Aircraft 's airframe This may include all or part of the Fuselage, Wings or flight control surfaces Honeywell ( is a major American multinational conglomerate company that produces a variety of consumer products engineering services and aerospace systems Meggitt plc ( is a leading British -based Engineering business specialising in Aerospace equipment Headquartered in Cleveland Ohio, Howmet a division of Alcoa is a world leader in the Investment casting of Superalloys, Aluminum and Snecma is a major French manufacturer of engines for commercial and military aircraft and for space vehicles

Even though B. F. Goodrich is still a popular brand name of tires, the Goodrich Corporation exited the tire business in 1988. The tire business and use of the name was sold to Michelin. Michelin (full name SCA Compagnie Générale des Établissements Michelin) ( based in Clermont-Ferrand in the Auvergne Région

Prior to that point, Goodrich ran some TV ads trying to distinguish themselves from the similar sounding Goodyear tire company. The Goodyear Tire & Rubber Company was founded in 1898 by Frank Seiberling. The tag line was, "See that blimp up in the sky? We're the other guys!"

Contents

History

B.F. Goodrich Tires Logo. The Goodrich Corporation exited the tire business in 1988
B. F. Goodrich Tires Logo. The Goodrich Corporation exited the tire business in 1988

By 1986 B. F. Goodrich had become an S&P 500-listed company in diverse business, including tire and rubber fabrication. The S&P 500 is a Stock market index containing the stocks of 500 Large-Cap Corporations all of which are from the United States. B. F. Goodrich made high-performance replacement tires. [2] In August 1986, one of its biggest competitors in the tire business, Uniroyal Inc. , was taken private[3] when it merged with the tire segment of the B. F. Goodrich Company, in a joint venture private partnership, to become the Uniroyal Goodrich Tire Company. B. F. Goodrich Company held a 50% stake in the new tire company. [4]

The new Uniroyal Goodrich Tire Company headquarters was set up at the former B. F. Goodrich corporate headquarters, within its 27-building downtown complex in Akron, Ohio which contained Goodrich's original factory. Akron is a city in the US state of Ohio and the County seat of Summit County. In the fall of 1987 B. F. Goodrich Company shut down several manufacturing operations at the site, and most of the complex remained vacant until February 1988, when B. F. Goodrich announced plans to sell the vacant part of the complex to the Covington Capital Corporation, a group of New York developers. [5]

In 1987, its first full year of operation, the new Uniroyal Goodrich Tire Company generated almost US$2 billion in sales revenue, with profit of about US$35 million. [4]

However, the merger soon proved to be difficult. [2] In June 1988 B. F. Goodrich sold its 50% stake for US$225 million. The buyers were a group of investors led by Clayton & Dubilier, Inc. Clayton Dubilier & Rice is one of the oldest private equity investment firms in the world a private New York investment firm. [4] [6] At the same time, B. F. Goodrich also received a warrant to purchase indirectly up to 7% of the equity in Uniroyal Goodrich Tire Company. [7]

As part of the June 1988 sale deal, the new privately-held tire company acquired publicly-held debt of $415 million. [8] [9] [10]

Also in 1988, Michelin Group, a subsidiary of the French tire company Michelin et Cie (Euronext: ML) proposed to acquire the Uniroyal Goodrich Tire Company, and began acquiring a stake. Michelin (full name SCA Compagnie Générale des Établissements Michelin) ( based in Clermont-Ferrand in the Auvergne Région Euronext NV is a pan- European Stock exchange based in Paris and with subsidiaries in Belgium, France, Netherlands [2]

By May 1990, Michelin Group had completed its buyout of Uniroyal Goodrich Tire Company from Clayton & Dubilier of New York. The deal was valued at about US$1. 5 billion. [11] B. F. Goodrich surrendered its 7% warrant to Michelin Group, and received US$32. 5 million additional revenue from the sale. [7]

B. F. Goodrich then exited the tire business entirely, and later changed its name to Goodrich Corporation, in line with its plan to build its chemicals and aerospace businesses through reinvestment and acquisitions. [6]

Environmental Record

The B. F. Goodrich site is a 2 acre industrial landfill, located about 2 miles (3. 2 km) northeast of Calvert City, Kentucky and lies on the southern bank of the Tennessee River. The B. F. Goodrich Company disposed of wastes on the site from the years 1969 to 1972 and used a former creek channel for landfilling. Workers disposed of about 54,000 tons of construction waste and plant trash. Buried 370 cubic yards (280 m³) of salt-brine sludge, and burned over 2 million gallons of liquid chlorinated organics in several burn pits at the site. [12] From 1973 to 1980, the only waste disposed of at the site was excavation dirt. In 1980, an inspection by the Kentucky Department of Natural Resources and Environmental Protection disclosed a leaking problem along the river side of the landfill. [13] The landfill was closed under a State approved closure plan in 1980. Groundwater, soil, and sediments are contaminated with volatile organic compounds including benzene and toluene from the former waste disposal activities.

Businesses

Actuation and Landing Systems

  • Actuation Systems
  • Aircraft Wheels and Brakes
  • Aviation Technical Services
  • Landing Gear
  • Engine Components

Electronic Systems

  • Sensors and Integrated Systems
  • Engine Control and Electrical Power Systems
  • ISR Systems

Nacelles and Interior Systems

  • Aerostructures
  • Interiors
  • Customer Services

Platforms

Civil

Military

References

  1. ^ (2007) Standard and Poor's 500 Guide. WikipediaWikiProject Aircraft. Please see WikipediaWikiProject Aircraft/page content for recommended layout WikipediaWikiProject Aircraft. Please see WikipediaWikiProject Aircraft/page content for recommended layout WikipediaWikiProject Aircraft. Please see WikipediaWikiProject Aircraft/page content for recommended layout WikipediaWikiProject Aircraft. Please see WikipediaWikiProject Aircraft/page content for recommended layout WikipediaWikiProject Aircraft. Please see WikipediaWikiProject Aircraft/page content for recommended layout WikipediaWikiProject Aircraft. Please see WikipediaWikiProject Aircraft/page content for recommended layout WikipediaWikiProject Aircraft. Please see WikipediaWikiProject Aircraft/page content for recommended layout WikipediaWikiProject Aircraft. Please see WikipediaWikiProject Aircraft/page content for recommended layout WikipediaWikiProject Aircraft. Please see WikipediaWikiProject Aircraft/page content for recommended layout WikipediaWikiProject Aircraft. Please see WikipediaWikiProject Aircraft/page content for recommended layout WikipediaWikiProject Aircraft. Please see WikipediaWikiProject Aircraft/page content for recommended layout WikipediaWikiProject Aircraft. Please see WikipediaWikiProject Aircraft/page content for recommended layout Bombardier Aerospace is a division of the Bombardier group It is the third largest aircraft company in the world in terms of yearly delivery of commercial airplanes (behind Learjet is a manufacturer of Business jets for civilian and military use The Handley Page HP137 Jetstream is a small twin Turboprop airliner with a pressurised fuselage designed to meet the requirements of the United States Regional airline WikipediaWikiProject Aircraft. Please see WikipediaWikiProject Aircraft/page content for recommended layout WikipediaWikiProject Aircraft. Please see WikipediaWikiProject Aircraft/page content for recommended layout WikipediaWikiProject Aircraft. Please see WikipediaWikiProject Aircraft/page content for recommended layout WikipediaWikiProject Aircraft. Please see WikipediaWikiProject Aircraft/page content for recommended layout WikipediaWikiProject Aircraft. Please see WikipediaWikiProject Aircraft/page content for recommended layout WikipediaWikiProject Aircraft. Please see WikipediaWikiProject Aircraft/page content for recommended layout WikipediaWikiProject Aircraft. Please see WikipediaWikiProject Aircraft/page content for recommended layout WikipediaWikiProject Aircraft. Please see WikipediaWikiProject Aircraft/page content for recommended layout WikipediaWikiProject Aircraft. Please see WikipediaWikiProject Aircraft/page content for recommended layout WikipediaWikiProject Aircraft. Please see WikipediaWikiProject Aircraft/page content for recommended layout WikipediaWikiProject Aircraft. Please see WikipediaWikiProject Aircraft/page content for recommended layout WikipediaWikiProject Aircraft. Please see WikipediaWikiProject Aircraft/page content for recommended layout WikipediaWikiProject Aircraft. Please see WikipediaWikiProject Aircraft/page content for recommended layout NASA 's Space Shuttle, officially called Space Transportation System ( STS) is the United States government's current manned Launch The McGraw-Hill Companies, Inc. . ISBN 0-07-147906-6.  
  2. ^ a b c Uniroyal, Inc. Eau Claire Plant Records, 1917-1990, UWEC. edu
  3. ^ Jeremy J. Siegel, Stocks For The Long Run, Second Edition, 1998, ISBN 0-07-058043-X
  4. ^ a b c Uniroyal Goodrich Tire Co reports earnings for Qtr to Sept 30, New York Times Archive, Published: October 14, 1988
  5. ^ COMPANY NEWS; Goodrich to Sell Complex in Akron, AP, New York Times, February 18, 1988
  6. ^ a b Company News; Goodrich Outlook, REUTERS, New York Times Archive, Published: June 24, 1988
  7. ^ a b COMPANY NEWS; Goodrich Gains In Uniroyal Sale, REUTERS, New York Times Archive, May 3, 1990
  8. ^ Uniroyal Goodrich Tire Co reports earnings for Qtr to March 31, New York Times Archive, Published: April 25, 1989
  9. ^ FINANCE/NEW ISSUES; Uniroyal Goodrich Sets 2-Part Offer, New York Times Archive, June 17, 1988
  10. ^ Uniroyal Goodrich Tire reports earnings for Qtr to Dec 31, New York Times Archive, Published: February 23, 1990
  11. ^ INSIDE, New York Times, Published: September 23, 1989
  12. ^ http://www.greens.org/s-r/12/12-13.html
  13. ^ http://epa.gov/reg5oorc/enfactions/enfactions1999/law-mm.htm

Further reading

External links

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