Goodrich Corporation

Goodrich Corporation. It was a major global supplier of systems and components for the aerospace and defense industry, with a history dating to the 19th century. Originally founded as a rubber manufacturing company, it transformed over decades into a premier aerospace firm before its acquisition. The company's final portfolio included landing gear, aircraft tires, sensors, engine control systems, and evacuation systems for commercial, regional, and military aircraft.

History

The company was founded in 1870 by Benjamin Franklin Goodrich as the Goodrich, Tew & Company rubber factory in Melrose, New York, before relocating to Akron, Ohio, a burgeoning center for the industry. It incorporated as the B.F. Goodrich Company in 1880, becoming a pioneer in tire manufacturing for bicycles and later automobiles, competing fiercely with Goodyear Tire and Rubber Company and Firestone Tire and Rubber Company. During World War II, the company significantly expanded its production for the war effort, manufacturing items like inflatable boats and aircraft tires. A strategic shift began in the 1980s under CEO John D. Ong, who divested the traditional tire and industrial rubber businesses to focus on aerospace and specialty chemicals, culminating in the 1986 sale of its tire division to Michelin.

Products and services

The corporation's aerospace offerings were extensive, organized around key systems. Its landing gear division was a world leader, supplying systems for aircraft like the Airbus A380 and Boeing 787 Dreamliner. The company produced engine control systems, fuel management systems, and sensors for major jet engine manufacturers, including Pratt & Whitney and General Electric. Other critical products included aircraft tires, brake systems, evacuation systems like slides and rafts, and deicing systems. It also provided space suit components for NASA and advanced sensors for unmanned aerial vehicles and missile guidance.

Corporate affairs

In its final years, the corporation was headquartered in Charlotte, North Carolina, having moved from Akron, Ohio in the 1990s. It was a constituent of the S&P 500 index and operated facilities globally, employing approximately 27,000 people. The company was led for over a decade by Chairman and CEO Marshall Larsen, who oversaw its strategic focus on high-margin aerospace systems. Its research and development efforts were conducted at centers like the Goodrich Aerospace Technical Center in Brecksville, Ohio, focusing on advanced composite materials and electro-optical systems.

Acquisitions and divestitures

The transformation into a pure-play aerospace company was executed through numerous transactions. Major acquisitions included Rohr, Inc. (1997), a leading nacelle and thrust reverser manufacturer; TRW Aeronautical Systems (2002), adding fuel and utility management systems; and Hella Aerospace (2005), expanding its lighting systems portfolio. Concurrently, it divested non-core assets, most notably the 2007 spin-off of its performance materials unit, which became an independent company named PolyOne Corporation. This strategy streamlined operations around its core aerospace and defense markets.

Legacy and successor

The corporation's independent history ended in 2012 when it was acquired by United Technologies Corporation for $18.4 billion. UTC merged its Hamilton Sundstrand division with the acquired assets to form a new entity named Collins Aerospace, which became a leading tier-one aerospace supplier within the larger Raytheon Technologies corporation following UTC's merger with Raytheon Company. The Goodrich brand name persists on many legacy products, such as landing gear and tires, and its innovative technologies continue to be integral to modern commercial aviation and military aircraft programs worldwide.

Category:Defunct aerospace companies of the United States Category:Companies based in Charlotte, North Carolina Category:Manufacturing companies established in 1870