Selection is Expected to Generate up to $400 Million in Revenue over Life of Program
CHARLOTTE, N.C.--(BUSINESS WIRE)--Goodrich Corporation (NYSE:GR) has been awarded a contract by the Defense Logistics Agency - Ogden to provide new carbon brakes and boltless wheels for the Air Force’s fleet of C-130 transport aircraft. The selection is expected to generate up to $400 million in revenue over the life of the program, including original equipment and aftermarket sales for U.S. and international customers. The contract covers qualification activities as well as flight test and retrofit equipment. The equipment will be provided by Goodrich’s Aircraft Wheels and Brakes business.
“Our C-130 wheel and brake design incorporates innovative solutions from our unique experience with large boltless aircraft wheels, as well as our high-performance DURACARBTM carbon braking material,” said Brian Brandewie, president, Aircraft Wheels and Brakes, Goodrich. “We believe the low-risk design and validation approach used by the Air Force as part of the source selection criteria combined with our advanced aircraft wheel and brake technologies will provide the C-130 community with significant performance, cost and maintainability benefits throughout the life of the program.”
Goodrich DURACARB™ carbon braking systems provide lighter weight, longer life, higher performance and lower cost of ownership compared to steel braking systems. Goodrich boltless aircraft wheels employ a lock-ring design that dramatically lowers maintenance time and cost, as well as parts count, when compared to traditional bolted aircraft wheels. Goodrich aircraft wheels and carbon brakes are in service on approximately 9,500 military, commercial, regional and business aircraft produced by Airbus, Boeing, Bombardier, Cessna, Embraer, Lockheed Martin and Northrop Grumman.
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 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.
GR &ndash Actuation and Landing Systems
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 aircraft; the actual amount of product purchased under the contracts potential cancellation of orders by customers; extensions of contracts with the company relating to the aircraft beyond the initial contract period; and global demand for the aircraft’s spare parts and aftermarket services. In addition to the foregoing risk factors, the forward-looking statements in this release regarding the expectation of up to $400 million in revenue are based on the assumption that the U.S. Air Force will upgrade its fleet of C-130 aircraft, and that international C-130 users will follow suit (more than 1,600 C-130 aircraft are currently in operational service worldwide). 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, 2008 and the company's quarterly report on Form 10-Q for the quarter ended June 30, 2009.
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.
