Money Matters - Simplified

Goodrich Corporation acquires Crompton Technology Group

Goodrich Corporation, (NYSE: GR), the global supplier of systems and services to the aerospace and defense industries, has acquired UK-based Crompton Technology Group, Ltd. (CTG).

Confirming the takeover, Jack Carmola, Segment President, Actuation and Landing Systems at Goodrich, stated "This acquisition allows Goodrich to benefit from this expected growth and to expand our composite capabilities into a broader range of Goodrich systems. We intend to leverage CTG's proprietary technology across a number of Goodrich products to benefit commercial and military customers worldwide.”

CTG, a specialist in the development and production of advanced composite materials and components for technology industries including the aerospace, has approximately 150 employees at its Banbury, UK facility.

The company's completed the transaction Thursday. The terms of the deal have yet not been disclosed.

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