Work is expected to generate more than $20 million in revenue over two
years
CHARLOTTE, N.C., July 14 /PRNewswire-FirstCall/ -- (Farnborough
International Airshow) Goodrich Corporation (NYSE: GR) has received an
initial production contract from Northrop Grumman Corporation to provide
its weapons bay door drive system for all models of the F-35 Lightning II
aircraft. The contract is expected to generate more than $20 million in
revenue through early 2011. Work will be performed by Goodrich's Actuation
Systems team in Wolverhampton, UK with support from Goodrich's Sydney,
Australia and Vergennes, Vt. businesses.
Goodrich is responsible for the complete actuation system for the F-35
weapons bay door drive, incorporating actuation, electronic controls and
locks. The system minimizes any adverse impact on the aircraft's stealth
signature by quickly and precisely opening and closing its weapons bay
door. The contract covers low rate initial production lots two and three,
for 12 and 19 aircraft respectively. Deliveries are expected to begin in
early 2009 and continue through the middle of 2011.
Goodrich's content on the F-35, expected to be valued at more than $3
million per aircraft, includes the air data system, landing gear, weapons
bay door drive systems, engine and fuel quantity sensors, actuation systems
and unique short takeoff/vertical landing (STOVL) engine and airframe
components. Production takes place at company facilities in Australia,
Canada, the UK and the U.S.
Goodrich Corporation, a Fortune 500 company, is a leading global
supplier of systems and services to the aerospace and defense industry.
Serving a global customer base with significant worldwide manufacturing and
service facilities, Goodrich is one of the largest aerospace companies in
the world. For more information visit http://www.goodrich.com.
Goodrich Corporation operates through its divisions and as a parent
company for its subsidiaries, one or more of which may be referred to as
"Goodrich Corporation" in this press release.
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," "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: demand for and market acceptance of the F-35
Lightning II; the actual amount of product purchased by Northrop Grumman
Corporation under the contract; and potential cancellation of orders.
Further information regarding the factors that could cause actual results
to differ materially from projected results can be found in the company's
filings with the Securities and Exchange Commission, including in the
company's Annual Report on Form 10-K for the year ended December 31, 2007.
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 - Actuation and Landing Systems
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Related links:
http://www.goodrich.com
CONTACT:
Laurie Tardif, +1-704-264-7338, or Lisa
Bottle, +1-704-258-1506, both for Goodrich Corporation
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