BFGoodrich completes acquisition of Raytheon Optical Systems

CHARLOTTE, N.C. -- The BFGoodrich Co. in Charlotte, N.C., completed the acquisition of Raytheon's electro-optical systems unit, company officials announced Dec. 27.

The electro-optical systems unit that BFGoodrich is acquiring develops and manufactures products for space transport and payload applications, including systems used on the Hubble Telescope Satellite and Chandra X-Ray Observatory.

The transaction positions BFGoodrich to supply satellite attitude determination and on-orbit control systems. The Raytheon unit, which had revenues of $152 million in 1999, also makes laser warning systems and visual surveillance systems for day and night use.

While many of these products were originally developed for military applications, there are considerable opportunities in the commercial arena, which Goodrich will pursue, company officials say. The companies first announced the acquisition on November 15, 2000.

BFGoodrich supplies aerospace and industrial products, as well as sealing and compressor systems. In 1999, BFGoodrich had total sales of $4.3 billion, excluding its Performance Materials segment, which is being sold. For more information contact the company on the World Wide Web at http://www.bfgoodrich.com/.

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