- Acquisition enhances Goodrich's reconnaissance sensor and precision
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
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