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Press Release
July 28, 2008
Goodrich Corporation Acquires Recon/Optical, Inc. Assets

  • Acquisition enhances Goodrich's reconnaissance sensor and precision optics capabilities

CHARLOTTE, N.C., July 28 /PRNewswire-FirstCall/ -- Goodrich Corporation (NYSE: GR) has signed an agreement with Bourns, Inc. to acquire the Chicago Aerial Industries (CAI) and Pacific Optical Division (POD) assets of Recon/Optical, Inc. (ROI), a leading provider of low-to-medium altitude airborne reconnaissance cameras and optical products for the homeland security and military market. The transaction closed today; terms of the acquisition were not disclosed.

ROI employs approximately 170 people at facilities located in Barrington, Ill. and Riverside, Calif. Major customers include original equipment defense contractors as well as U.S. and allied military forces around the world. Primary products include dual-band and infrared framing cameras, imagery and data exploitation systems, and sophisticated optical devices. The company was founded in 1922, and in 2007 generated over $27 million in revenue.

Curtis Reusser, Segment President, Electronic Systems at Goodrich, said, "This acquisition provides Goodrich with additional capabilities in persistent imaging, one of the key components our armed services need to execute today's missions. ROI's products for low and medium altitude missions are an excellent complement to Goodrich's high altitude DB-110 and SYERS cameras operating today. Combining our engineering strengths and technology will further support U.S. and allied forces in the full altitude spectrum of high end reconnaissance systems."

Richard Zacaroli, Vice President and General Manager for ROI, said, "We are looking forward to joining Goodrich and leveraging our capabilities to benefit the markets we serve."

ROI will become part of Goodrich's ISR Systems business, within its Electronic Systems segment.

Bourns, Inc., headquartered in Riverside, California, is a diversified manufacturer serving a broad range of markets primarily in the electronics industry, including telecommunications, computer, industrial, instrumentation, automotive and various other market segments.

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 .

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.

SOURCE Goodrich Corporation; GR - Electronic Systems

CONTACT: Laurie Tardif, +1-704-423-7048, or Lisa Bottle, +1-704-423-7060, both of Goodrich Corporation

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Goodrich Corporation's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.
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