CHARLOTTE, N.C.---The BFGoodrich Company announced today that it has completed the purchase of the outstanding stock of The IBP Aerospace Group Inc. Previously the companies announced a letter of intent on Dec. 2, 1999 and indicated they would close the transaction in the first quarter pending government approvals.
As a result of the transaction, BFGoodrich now will be able to offer the K-36/3.5A ejection seat for U.S.- built aircraft. The seat, considered to provide unmatched pilot safety, has been adapted by IBP and Zvevda, a Russian manufacturer, for U.S. production and use in American-built aircraft. The new technology is part of the company's existing aerospace segment. BFGoodrich is one of the world's leading suppliers of aerospace components and systems with 1999 sales of $3.6 billion.
David Watson, President, Maintenance Repair and Overhaul and Landing and Safety Systems Groups within BFGoodrich Aerospace, said, "We are delighted that we can now offer manufacturers of military aircraft the K-36/3.5A seat, widely acknowledged as the most advanced ejection seat in the world. The combination of the proven K-36 seat and soon-to-be released BFGoodrich inflatable restraint technology promise to further enhance the capability to protect our pilots in the future. We are on the verge of what is quite possibly the greatest development for the protection of our tactical pilots since the jet age.''
Watson also noted that the BFGoodrich Safety Systems Division integration of the K-36/3.5A program offers new market opportunities internationally and supports the United States - Russian government to government initiatives for future joint programs.
The K-36/3.5A seat, which was developed in Russia, is recognized for its outstanding ability to protect the occupant at all ranges of the ejection envelope. The seat has been demonstrated in operation above 700 knots and can accommodate occupants of all sizes. By utilizing stabilizing booms, air deflector, limb restraints and variable rocket technology, the K-36/3.5A seat offers superior pilot protection.
The company expects that it will be able to offer these advanced ejection seats within two years for use on U.S. built aircraft flying anywhere in the world. The Joint Strike Fighter, which is currently in development and retrofit opportunities for the F-5 and the T-38 aircraft, are excellent applications for the K-36/3.5A ejection seat. The company expects to obtain U.S. Government funds to support the K-36/3.5A qualification efforts.
BFGoodrich Aerospace is one of the world's leading suppliers of components, systems, and services to the aerospace industry. It is the largest business at The BFGoodrich Company, which had total sales of $5.5 billion in 1999 including its other major businesses, performance materials and engineered industrial products.
The BFGoodrich Company has its headquarters in Charlotte, North Carolina and employs 27,000 people worldwide.
BFGoodrich Completes Acquisition; Expands Position in The Ejection Seat Industry