Goodrich Corporation
Encyclopedia
The Goodrich Corporation , formerly the B.F. Goodrich Company, is an American
aerospace
manufacturing company based in Charlotte, North Carolina
. Founded in Akron
, Ohio
in 1870 as Goodrich, Tew & Co. by Dr. Benjamin Franklin Goodrich
. The company name was changed to the "B.F. Goodrich Company" in 1880, to BFGoodrich in the 1980s, and to "Goodrich Corporation" in 2001.
In 1869 Benjamin Franklin Goodrich purchased the Hudson River Rubber Company, a small business in Hastings-on-Hudson, New York
. The following year Goodrich
accepted an offer of $13,600 from the citizens of Akron, Ohio
, to relocate his business there.
The company has a history of innovation. As B.F. Goodrich, the company became one of the largest tire and rubber manufacturers in the world, helped in part by the 1986 merger with Uniroyal
(formerly the United States Rubber Company). This product line was sold to Michelin
in 1988, and the company merged with Rohr
(1997), Coltec Industries, and TRW Aeronautical Systems
(formerly Lucas Aerospace) in 2002. The sale of the specialty chemicals division and subsequent change to the current name completed the transformation. In 2006, company sales were $5.8 billion dollars, of which 18%, 16% and 12% of total revenues were accounted for by the U.S. government, Airbus and Boeing, respectively.
In 1936 the company entered the Mexican market in a joint venture with Euzkadi (Now part of Continental AG
) (named:Goodrich-Euzkadi). The Troy, Ohio
plant was purchased in 1946 from Waco
. Since then, Goodrich has manufactured wheels and brakes for a variety of aircraft. Among these are commercial, military, regional, and business programs. This successful operation lies at the core of Goodrich's business. Competitors include the aerostructure
s divisions of companies such as Honeywell
, Messier-Bugatti, Aircraft Braking Systems, (Howmet/Huck
) and SNECMA
.
In the 1940s, Hood Rubber Company was sold before the Great Depression as a division of the B.F. Goodrich Company.
Even though B.F. Goodrich is still a popular brand name of tires, the Goodrich Corporation exited the tire business in 1988. The tire business and use of the name was sold to Michelin
. Before the sale to Michelin, Goodrich ran television and print ads showing an empty expanse of blue sky, to distinguish themselves from the similar-sounding Goodyear
tire company. The tag line was, "See that blimp up in the sky? We're the other guys!"
By 1986 B.F. Goodrich had become an S&P 500
-listed company in diverse business, including tire and rubber fabrication. B.F. Goodrich made high-performance replacement tires. In August 1986, one of its biggest competitors in the tire business, Uniroyal Inc.
, was taken private when it merged with the tire segment of the B.F. Goodrich Company, in a joint venture private partnership, to become the Uniroyal Goodrich Tire Company. B.F. Goodrich Company held a 50% stake in the new tire company.
The new Uniroyal Goodrich Tire Company headquarters was set up at the former B.F. Goodrich corporate headquarters, within its 27-building downtown complex in Akron, Ohio
which contained Goodrich's original factory. In the fall of 1987 B.F. Goodrich Company shut down several manufacturing operations at the site, and most of the complex remained vacant until February 1988, when B.F. Goodrich announced plans to sell the vacant part of the complex to the Covington Capital Corporation, a group of New York developers.
In 1987, its first full year of operation, the new Uniroyal Goodrich Tire Company generated almost US$2 billion in sales revenue, with profit of about US$35 million.
However, the merger soon proved to be difficult. In June 1988 B.F. Goodrich sold its 50% stake for US$225 million. The buyers were a group of investors led by Clayton & Dubilier, Inc. a private New York investment firm. At the same time, B.F. Goodrich also received a warrant to purchase indirectly up to 7% of the equity in Uniroyal Goodrich Tire Company.
As part of the June 1988 sale deal, the new privately held tire company acquired publicly held debt of $415 million.
Also in 1988, Michelin Group, a subsidiary of the French tire company Michelin
et Cie proposed to acquire the Uniroyal Goodrich Tire Company, and began acquiring a stake.
By May 1990, Michelin Group had completed its buyout of Uniroyal Goodrich Tire Company from Clayton & Dubilier of New York. The deal was valued at about US$1.5 billion. B.F. Goodrich surrendered its 7% warrant to Michelin Group, and received US$32.5 million additional revenue from the sale.
B.F. Goodrich by then exited the tire business entirely, in line with its plan to build its chemicals and aerospace businesses through reinvestment and acquisitions. In 1997 it acquired Rohr, a maker of jet aircraft engine nacelles (the aerodynamic structures that surround aircraft engines), expanding its presence in integrated aircraft components industry.
In 1999 it acquired Charlotte, North Carolina
-based Coltec Industries for $2.2 billion in stock and assumed debt, making the former tire maker the No. 1 supplier of landing gear and other aircraft parts. The merger meant a headquarters move to Charlotte.
In 2001, the Company divested its specialty chemicals business to focus on aerospace and industrial products and, to signify the completion of its transformation, it was renamed Goodrich Corporation and adopted a new logo.
In November 2010, Goodrich opened a large new manufacturing centre in Rzeszow
, in Poland
.
In September 2011, United Technologies Corporation
announced a deal to buy Goodrich for $18.4 billion, paying $127.50 per share and assuming $1.9 billion in debt.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
aerospace
Aerospace
Aerospace comprises the atmosphere of Earth and surrounding space. Typically the term is used to refer to the industry that researches, designs, manufactures, operates, and maintains vehicles moving through air and space...
manufacturing company based in Charlotte, North Carolina
Charlotte, North Carolina
Charlotte is the largest city in the U.S. state of North Carolina and the seat of Mecklenburg County. In 2010, Charlotte's population according to the US Census Bureau was 731,424, making it the 17th largest city in the United States based on population. The Charlotte metropolitan area had a 2009...
. Founded in Akron
Akron, Ohio
Akron , is the fifth largest city in the U.S. state of Ohio and the county seat of Summit County. It is located in the Great Lakes region approximately south of Lake Erie along the Little Cuyahoga River. As of the 2010 census, the city had a population of 199,110. The Akron Metropolitan...
, Ohio
Ohio
Ohio is a Midwestern state in the United States. The 34th largest state by area in the U.S.,it is the 7th‑most populous with over 11.5 million residents, containing several major American cities and seven metropolitan areas with populations of 500,000 or more.The state's capital is Columbus...
in 1870 as Goodrich, Tew & Co. by Dr. Benjamin Franklin Goodrich
Benjamin Goodrich
Benjamin Franklin Goodrich was an American industrialist in the rubber industry.Dr. Goodrich was born to Anson and Susan Goodrich in Ripley, New York. He was educated as a physician; he received his M.D. from Western Reserve College in Cleveland, Ohio. B...
. The company name was changed to the "B.F. Goodrich Company" in 1880, to BFGoodrich in the 1980s, and to "Goodrich Corporation" in 2001.
In 1869 Benjamin Franklin Goodrich purchased the Hudson River Rubber Company, a small business in Hastings-on-Hudson, New York
Hastings-on-Hudson, New York
Hastings-on-Hudson is a village in Westchester County, New York, United States. It is located in the southwest part of the town of Greenburgh. As of the 2010 census, it had a population of 7,849. It lies on U.S. Route 9, "Broadway" in Hastings...
. The following year Goodrich
Goodrich
- People :* Aaron Goodrich , first Chief Justice of Minnesota Territorial Supreme Court * Benjamin Franklin Goodrich , founder of the Goodrich Corporation* Caspar Goodrich , American sailor, son of the admiral* Caspar F...
accepted an offer of $13,600 from the citizens of Akron, Ohio
Akron, Ohio
Akron , is the fifth largest city in the U.S. state of Ohio and the county seat of Summit County. It is located in the Great Lakes region approximately south of Lake Erie along the Little Cuyahoga River. As of the 2010 census, the city had a population of 199,110. The Akron Metropolitan...
, to relocate his business there.
The company has a history of innovation. As B.F. Goodrich, the company became one of the largest tire and rubber manufacturers in the world, helped in part by the 1986 merger with Uniroyal
United States Rubber Company
The United States Rubber Company was founded in Naugatuck, Connecticut in 1892. It was one of the original 12 stocks in the Dow Jones Industrial Average, and became Uniroyal Inc...
(formerly the United States Rubber Company). This product line was sold to Michelin
Michelin
Michelin is a tyre manufacturer based in Clermont-Ferrand in the Auvergne région of France. It is one of the two largest tyre manufacturers in the world along with Bridgestone. In addition to the Michelin brand, it also owns the BFGoodrich, Kleber, Riken, Kormoran and Uniroyal tyre brands...
in 1988, and the company merged with Rohr
Rohr, Inc.
Goodrich Aerostructures Group, formerly Rohr, Inc., is an aerospace manufacturing company based in Chula Vista, California, south of San Diego...
(1997), Coltec Industries, and TRW Aeronautical Systems
TRW
TRW Inc. was an American corporation involved in a variety of businesses, mainly aerospace, automotive, and credit reporting. It was a pioneer in multiple fields including electronic components, integrated circuits, computers, software and systems engineering. TRW built many spacecraft,...
(formerly Lucas Aerospace) in 2002. The sale of the specialty chemicals division and subsequent change to the current name completed the transformation. In 2006, company sales were $5.8 billion dollars, of which 18%, 16% and 12% of total revenues were accounted for by the U.S. government, Airbus and Boeing, respectively.
In 1936 the company entered the Mexican market in a joint venture with Euzkadi (Now part of Continental AG
Continental AG
Continental AG, internally often called Conti for short, is a worldwide leading German manufacturer of tires, brake systems, vehicle stability control systems, engine injection systems, tachographs and other parts for the automotive and transport industries. The company is based in Hanover, Germany...
) (named:Goodrich-Euzkadi). The Troy, Ohio
Troy, Ohio
* - Sports :In addition to Troy High School athletics, Troy is home to the Miami Valley Silverbacks indoor football team of the Continental Indoor Football League....
plant was purchased in 1946 from Waco
Waco Aircraft Company
The Waco Aircraft Company was an aircraft manufacturer located in Troy, Ohio, USA. Between 1919 and 1947, the company produced a wide range of civilian biplanes....
. Since then, Goodrich has manufactured wheels and brakes for a variety of aircraft. Among these are commercial, military, regional, and business programs. This successful operation lies at the core of Goodrich's business. Competitors include the aerostructure
Aerostructure
An aerostructure is a component of an aircraft's airframe. This may include all or part of the fuselage, wings, or flight control surfaces. Companies that specialize in constructing these components are referred to as "aerostructures manufacturers," though many larger aerospace firms with a more...
s divisions of companies such as Honeywell
Honeywell
Honeywell International, Inc. is a major conglomerate company that produces a variety of consumer products, engineering services, and aerospace systems for a wide variety of customers, from private consumers to major corporations and governments....
, Messier-Bugatti, Aircraft Braking Systems, (Howmet/Huck
Huck
Huck may refer to:*Huckleberry Finn , a character in four novels by Mark Twain*Huckleberry Hound, cartoon character created by animation studio Hanna-Barbera*Bentfield Hucks, an aviation pioneer*Huck Seed, a poker player...
) and SNECMA
Snecma
Snecma is a major French manufacturer of engines for commercial and military aircraft, and for space vehicles. The name is an acronym for Société Nationale d'Étude et de Construction de Moteurs d'Aviation .In 2005, the Snecma group, which included Snecma ,...
.
In the 1940s, Hood Rubber Company was sold before the Great Depression as a division of the B.F. Goodrich Company.
Even though B.F. Goodrich is still a popular brand name of tires, the Goodrich Corporation exited the tire business in 1988. The tire business and use of the name was sold to Michelin
Michelin
Michelin is a tyre manufacturer based in Clermont-Ferrand in the Auvergne région of France. It is one of the two largest tyre manufacturers in the world along with Bridgestone. In addition to the Michelin brand, it also owns the BFGoodrich, Kleber, Riken, Kormoran and Uniroyal tyre brands...
. Before the sale to Michelin, Goodrich ran television and print ads showing an empty expanse of blue sky, to distinguish themselves from the similar-sounding Goodyear
Goodyear Tire and Rubber Company
The Goodyear Tire & Rubber Company was founded in 1898 by Frank Seiberling. Goodyear manufactures tires for automobiles, commercial trucks, light trucks, SUVs, race cars, airplanes, farm equipment and heavy earth-mover machinery....
tire company. The tag line was, "See that blimp up in the sky? We're the other guys!"
Radios
B.F. Goodrich sold radios from the 1930's to the 1950's, under the brand name "Mantola". These radios were actually made by a variety of manufacturers for B.F. Goodrich.History
S&P 500
The S&P 500 is a free-float capitalization-weighted index published since 1957 of the prices of 500 large-cap common stocks actively traded in the United States. The stocks included in the S&P 500 are those of large publicly held companies that trade on either of the two largest American stock...
-listed company in diverse business, including tire and rubber fabrication. B.F. Goodrich made high-performance replacement tires. In August 1986, one of its biggest competitors in the tire business, Uniroyal Inc.
United States Rubber Company
The United States Rubber Company was founded in Naugatuck, Connecticut in 1892. It was one of the original 12 stocks in the Dow Jones Industrial Average, and became Uniroyal Inc...
, was taken private when it merged with the tire segment of the B.F. Goodrich Company, in a joint venture private partnership, to become the Uniroyal Goodrich Tire Company. B.F. Goodrich Company held a 50% stake in the new tire company.
The new Uniroyal Goodrich Tire Company headquarters was set up at the former B.F. Goodrich corporate headquarters, within its 27-building downtown complex in Akron, Ohio
Akron, Ohio
Akron , is the fifth largest city in the U.S. state of Ohio and the county seat of Summit County. It is located in the Great Lakes region approximately south of Lake Erie along the Little Cuyahoga River. As of the 2010 census, the city had a population of 199,110. The Akron Metropolitan...
which contained Goodrich's original factory. In the fall of 1987 B.F. Goodrich Company shut down several manufacturing operations at the site, and most of the complex remained vacant until February 1988, when B.F. Goodrich announced plans to sell the vacant part of the complex to the Covington Capital Corporation, a group of New York developers.
In 1987, its first full year of operation, the new Uniroyal Goodrich Tire Company generated almost US$2 billion in sales revenue, with profit of about US$35 million.
However, the merger soon proved to be difficult. In June 1988 B.F. Goodrich sold its 50% stake for US$225 million. The buyers were a group of investors led by Clayton & Dubilier, Inc. a private New York investment firm. At the same time, B.F. Goodrich also received a warrant to purchase indirectly up to 7% of the equity in Uniroyal Goodrich Tire Company.
As part of the June 1988 sale deal, the new privately held tire company acquired publicly held debt of $415 million.
Also in 1988, Michelin Group, a subsidiary of the French tire company Michelin
Michelin
Michelin is a tyre manufacturer based in Clermont-Ferrand in the Auvergne région of France. It is one of the two largest tyre manufacturers in the world along with Bridgestone. In addition to the Michelin brand, it also owns the BFGoodrich, Kleber, Riken, Kormoran and Uniroyal tyre brands...
et Cie proposed to acquire the Uniroyal Goodrich Tire Company, and began acquiring a stake.
By May 1990, Michelin Group had completed its buyout of Uniroyal Goodrich Tire Company from Clayton & Dubilier of New York. The deal was valued at about US$1.5 billion. B.F. Goodrich surrendered its 7% warrant to Michelin Group, and received US$32.5 million additional revenue from the sale.
B.F. Goodrich by then exited the tire business entirely, in line with its plan to build its chemicals and aerospace businesses through reinvestment and acquisitions. In 1997 it acquired Rohr, a maker of jet aircraft engine nacelles (the aerodynamic structures that surround aircraft engines), expanding its presence in integrated aircraft components industry.
In 1999 it acquired Charlotte, North Carolina
Charlotte, North Carolina
Charlotte is the largest city in the U.S. state of North Carolina and the seat of Mecklenburg County. In 2010, Charlotte's population according to the US Census Bureau was 731,424, making it the 17th largest city in the United States based on population. The Charlotte metropolitan area had a 2009...
-based Coltec Industries for $2.2 billion in stock and assumed debt, making the former tire maker the No. 1 supplier of landing gear and other aircraft parts. The merger meant a headquarters move to Charlotte.
In 2001, the Company divested its specialty chemicals business to focus on aerospace and industrial products and, to signify the completion of its transformation, it was renamed Goodrich Corporation and adopted a new logo.
In November 2010, Goodrich opened a large new manufacturing centre in Rzeszow
Rzeszów
Rzeszów is a city in southeastern Poland with a population of 179,455 in 2010. It is located on both sides of the Wisłok River, in the heartland of the Sandomierska Valley...
, in Poland
Poland
Poland , officially the Republic of Poland , is a country in Central Europe bordered by Germany to the west; the Czech Republic and Slovakia to the south; Ukraine, Belarus and Lithuania to the east; and the Baltic Sea and Kaliningrad Oblast, a Russian exclave, to the north...
.
In September 2011, United Technologies Corporation
United Technologies Corporation
United Technologies Corporation is an American multinational conglomerate headquartered in the United Technologies Building in Hartford, Connecticut...
announced a deal to buy Goodrich for $18.4 billion, paying $127.50 per share and assuming $1.9 billion in debt.
Actuation and Landing Systems
- Actuation Systems
- Aircraft Wheels and Brakes
- Aviation Technical Services
- Landing Gear
- Engine Components
Electronic Systems
- Sensors and Integrated Systems
- Engine Control and Electrical Power Systems
- ISR (Intelligence, Surveillance, and Reconnaissance) Systems
Civil
- Boeing 737Boeing 737The Boeing 737 is a short- to medium-range, twin-engine narrow-body jet airliner. Originally developed as a shorter, lower-cost twin-engine airliner derived from Boeing's 707 and 727, the 737 has developed into a family of nine passenger models with a capacity of 85 to 215 passengers...
- Boeing 747-400Boeing 747The Boeing 747 is a wide-body commercial airliner and cargo transport, often referred to by its original nickname, Jumbo Jet, or Queen of the Skies. It is among the world's most recognizable aircraft, and was the first wide-body ever produced...
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- Boeing 767Boeing 767The Boeing 767 is a mid-size, wide-body twin-engine jet airliner built by Boeing Commercial Airplanes. It was the manufacturer's first wide-body twinjet and its first airliner with a two-crew glass cockpit. The aircraft features two turbofan engines, a supercritical wing, and a conventional tail...
- Boeing 777Boeing 777The Boeing 777 is a long-range, wide-body twin-engine jet airliner manufactured by Boeing Commercial Airplanes. It is the world's largest twinjet and is commonly referred to as the "Triple Seven". The aircraft has seating for over 300 passengers and has a range from , depending on model...
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- Bombardier Dash-8 Q400
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helicoptor (electronic ice protection system) - Embraer 170
- Embraer 190
- Piaggio P180
Military
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(flaps, transmission ice detection sensors) - F-14 TomcatF-14 TomcatThe Grumman F-14 Tomcat is a supersonic, twin-engine, two-seat, variable-sweep wing fighter aircraft. The Tomcat was developed for the United States Navy's Naval Fighter Experimental program following the collapse of the F-111B project...
- F-15 EagleF-15 EagleThe McDonnell Douglas F-15 Eagle is a twin-engine, all-weather tactical fighter designed by McDonnell Douglas to gain and maintain air superiority in aerial combat. It is considered among the most successful modern fighters with over 100 aerial combat victories with no losses in dogfights...
(radome erosion boot) - F-16 Fighting FalconF-16 Fighting FalconThe General Dynamics F-16 Fighting Falcon is a multirole jet fighter aircraft originally developed by General Dynamics for the United States Air Force . Designed as an air superiority day fighter, it evolved into a successful all-weather multirole aircraft. Over 4,400 aircraft have been built since...
(nosewheel) - S-3 VikingS-3 VikingThe Lockheed S-3 Viking is a four-seat twin-engine jet aircraft that was used by the U.S. Navy to identify, track, and destroy enemy submarines. In the late 1990s, the S-3B's mission focus shifted to surface warfare and aerial refueling. The Viking also provided electronic warfare and surface...
- P-3 OrionP-3 OrionThe Lockheed P-3 Orion is a four-engine turboprop anti-submarine and maritime surveillance aircraft developed for the United States Navy and introduced in the 1960s. Lockheed based it on the L-188 Electra commercial airliner. The aircraft is easily recognizable by its distinctive tail stinger or...
- C-141 StarlifterC-141 StarlifterThe Lockheed C-141 Starlifter was a military strategic airlifter in service with the Air Mobility Command of the United States Air Force...
- C-5 GalaxyC-5 GalaxyThe Lockheed C-5 Galaxy is a large military transport aircraft built by Lockheed. It provides the United States Air Force with a heavy intercontinental-range strategic airlift capability, one that can carry outsize and oversize cargos, including all air-certifiable cargo. The Galaxy has many...
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- F-111 AardvarkGeneral Dynamics F-111The General Dynamics F-111 "Aardvark" was a medium-range interdictor and tactical strike aircraft that also filled the roles of strategic bomber, reconnaissance, and electronic warfare in its various versions. Developed in the 1960s by General Dynamics, it first entered service in 1967 with the...
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- A-6 IntruderA-6 IntruderThe Grumman A-6 Intruder was an American, twin jet-engine, mid-wing attack aircraft built by Grumman Aerospace. In service with the U.S. Navy and U.S. Marine Corps between 1963 and 1997, the Intruder was designed as an all-weather medium attack aircraft to replace the piston-engined A-1 Skyraider...
- CH-46 Sea KnightCH-46 Sea KnightThe Boeing Vertol CH-46 Sea Knight is a medium-lift tandem rotor transport helicopter, used by the United States Marine Corps to provide all-weather, day-or-night assault transport of combat troops, supplies and equipment. Assault Support is its primary function, and the movement of supplies and...
(wheels or rotor brakes) - CH-47 ChinookCH-47 ChinookThe Boeing CH-47 Chinook is an American twin-engine, tandem rotor heavy-lift helicopter. Its top speed of 170 knots is faster than contemporary utility and attack helicopters of the 1960s...
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(wheels or rotor brakes) - Harrier Jump JetHarrier Jump JetThe Harrier, informally referred to as the Jump Jet, is a family of British-designed military jet aircraft capable of vertical/short takeoff and landing operations...
- All Versions (Hydromechanical fuel systems) - SEPECAT JaguarSEPECAT JaguarThe SEPECAT Jaguar is an Anglo-French jet ground attack aircraft, originally used by the British Royal Air Force and the French Armée de l'Air in the close air support and nuclear strike role, and still in service with several export customers, notably the Indian Air Force and the Royal Air Force...
- All Versions (Hydromechanical fuel systems) - Space ShuttlesSpace Shuttle programNASA's Space Shuttle program, officially called Space Transportation System , was the United States government's manned launch vehicle program from 1981 to 2011...
(wheels and brakes; tire business sold to MichelinMichelinMichelin is a tyre manufacturer based in Clermont-Ferrand in the Auvergne région of France. It is one of the two largest tyre manufacturers in the world along with Bridgestone. In addition to the Michelin brand, it also owns the BFGoodrich, Kleber, Riken, Kormoran and Uniroyal tyre brands...
in 1988) - Panavia TornadoPanavia TornadoThe Panavia Tornado is a family of twin-engine, variable-sweep wing combat aircraft, which was jointly developed and manufactured by the United Kingdom, West Germany and Italy...
- All versions (engine controls, high lift control unit, flap and slat actuation, nozzle control)
Notable employees
- Virgil A. MartinVirgil A. MartinVirgil A. Martin was a business executive and member of the Los Angeles City Council between 1927 and 1931.-Biography:Martin was born October 15, 1874, in Tecumseh, Nebraska, the son of Judson W. Martin and Ennis C. Smith...
, Los Angeles, California, City Council member (1927–31)
Further reading
- Mansel G. Blackford; B. F. Goodrich: Tradition and Transformation, 1870–1995; 1996, Ohio State University Press; ISBN 0-8142-0696-4.