Posted by John McHaleCHARLOTTE, N.C., 11 June 2010. Goodrich Corp. (NYSE: GR) acquired Crompton Technology Group, Ltd. (CTG), in Banbury, United Kingdom. CTG is a designer and manufacturer of advanced carbon fiber composite products for the aerospace, defense, advanced vehicle, and clean energy markets. The transaction closed yesterday and terms were not disclosed. CTG's primary aerospace products include transmission shafts for flight control and power drive systems as well as specialized pipes used in fuel systems. The company also has applied its composite design capabilities to a number of other products, including flywheels and accumulators in the clean energy and advanced vehicle markets. "CTG's innovative composite design, engineering, and manufacturing experience has positioned it for significant future growth as aircraft currently in development transition into production," says Jack Carmola, segment president, Actuation and Landing Systems at Goodrich. "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." "Over the last few years, CTG has grown rapidly and gained recognition as an innovator in the field of composites," says Scott Roberts, managing director of CTG. "In joining Goodrich, we look forward to continuing to grow the business while maintaining our entrepreneurial drive for designing and manufacturing increasingly advanced technical solutions." CTG, a privately-held company, employs approximately 150 people. It will become part of Goodrich's Actuation Systems business.
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