Site Map |
About GoodrichInvestor RelationsBusinessesMarket CapabilitiesNewsCareersCustomers / Suppliers

Investor Relations / Press Release
Press Release
September 06, 2005
Goodrich to Acquire Sensors Unlimited, Inc. -- Short Wave Infrared (SWIR) Technology Innovators

Addition of SWIR aligns with existing Goodrich intelligence, surveillance and reconnaissance systems

CHARLOTTE, N.C., Sept. 6 /PRNewswire-FirstCall/ -- Goodrich Corporation (NYSE: GR) announced today that it has entered into a definitive agreement to acquire Sensors Unlimited, Inc. The $60 million cash transaction, which has been approved by the Boards of Directors of Goodrich and Sensors Unlimited, Inc. is expected to close in the fourth quarter of 2005. The transaction is subject to approval by U.S. regulatory agencies. 2005 sales for the new business are expected to be $19 million.

Under the terms of the agreement, Goodrich will acquire a business that has pioneered the design and production of Short Wave Infrared (SWIR) technology. Sensors Unlimited is a leader in Indium Gallium Arsenide (InGaAs) imaging technology -- which provides superior imaging performance in extremely low light conditions -- and has in-house manufacturing capabilities for advanced infrared cameras and short wave infrared and near infrared focal plane arrays.

Sensors Unlimited products have a presence in a variety of markets such as: military; security; industrial; commercial; and telecommunications. Applications range from covert surveillance, night vision and health and safety protocols to historical art inspection. These products align with existing Goodrich positions in intelligence, surveillance and reconnaissance systems and are expected to create opportunities for additional growth in new and emerging markets.

According to Marshall Larsen, Chairman, President and Chief Executive Officer of Goodrich, "This is a strategically important acquisition for our surveillance and reconnaissance business. We continue to build on our growing presence in the defense and homeland security markets. Short wave infrared sensors and near infrared imaging systems, created with indium gallium arsenide technology, will significantly strengthen our position in the high- growth markets for surveillance and reconnaissance systems as well as homeland security applications. For example, our DB-110 airborne reconnaissance system, a Goodrich technology currently flying with the U.K.'s Royal Air Force, which will also be flying with Poland's Ministry of National Defense, is capable of leveraging the addition of short wave infrared technology. Our laser perimeter awareness systems that support emerging homeland security needs may also incorporate short wave infrared technology to enhance their capabilities; thereby expanding the already broad portfolio of solutions we can offer to the marketplace."

With a 39,000-square-foot facility in Princeton, N.J. and more than 50 employees in manufacturing and engineering roles, the new business will become part of Goodrich's existing Optical and Space Systems division.

Sensors Unlimited, Inc. is being represented by Merrill Lynch & Co. in this transaction.

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

Forward-looking Statements

Certain statements made in this release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the company's future plans, objectives and expected performance. Specifically, statements that are not historical facts, including statements accompanied by words such as "believe," "expect," "anticipate," "intend," "could," "should," "estimate," or "plan," are intended to identify forward- looking statements and convey the uncertainty of future events or outcomes. The company cautions readers that any such forward-looking statements are based on assumptions that the company believes are reasonable, but are subject to a wide range of risks, and actual results may differ materially.

Important factors that could cause actual results to differ include, but are not limited to: the company's ability to successfully develop products incorporating short wave infrared and indium gallium arsenide technology; the company's ability to successfully manufacture and sell products that are part of the existing Sensors Unlimited product lines; competitive product and pricing pressures; domestic and foreign government spending, budgetary and trade policies; economic and political changes in international markets where the company competes, such as changes in currency exchange rates, inflation, deflation, recession and other external factors over which the company has no control.

The company cautions you not to place undue reliance on the forward- looking statements contained in this release, which speak only as of the date on which such statements were made. The company undertakes no obligation to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date on which such statements were made or to reflect the occurrence of unanticipated events.

SOURCE Goodrich Corporation; GR - Electronic Systems

Gail K. Warner, +1-704-423-7048
Paul Gifford, +1-704-423-5517
both of Goodrich Corporation

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Goodrich Corporation's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.
Home | About Goodrich | Privacy Policy | Usage Policy | Site Map | Contact Us
Copyright © 2004 - 2012 Goodrich Corporation. All rights Reserved.