CHARLOTTE, N.C.---The BFGoodrich Company announced today that it has completed the acquisition of Raytheon's electro- optical systems unit. The companies first announced the acquisition on November 15, 2000. The business being acquired develops and manufactures advanced products and technologies used in space transport and payload applications, including systems used on the sophisticated Hubble Telescope Satellite and Chandra X-Ray Observatory.
The transaction positions BFGoodrich to become a leading supplier of satellite attitude determination and on-orbit control systems (ADOCS). In addition to being a world leader in precision optical sensors and advanced large optical systems, the Raytheon unit, which had revenues of $152 million in 1999, also makes laser warning systems and visual surveillance systems for day and night use. While many of these products were originally developed for military applications, there are considerable opportunities in the commercial arena, which Goodrich will pursue.
The BFGoodrich Company is a leading worldwide supplier of aerospace and industrial products. The company is also a leading supplier of sealing and compressor systems and other engineered industrial products.
In 1999, BFGoodrich had total sales of $4.3 billion, excluding its Performance Materials segment, which is being sold. The company has its headquarters in Charlotte, North Carolina, and employs 24,000 people worldwide.
BFGoodrich Completes Acquisitionof Raytheon Optical Systems