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 |  | BFGoodrich Completes Raytheon Optical Systems Deal
By Stew Magnuson
Spacenews.com Staff Writer
posted: 11:04 am ET
28 December 2000
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WASHINGTON — The BF Goodrich Co
WASHINGTON — The BF Goodrich Co. completed Dec. 27 its acquisition of Raytheon System Co.’s electro-optical systems unit, which manufactures components on the Hubble Telescope Satellite and Chandra X-ray Observatory, according to a BF Goodrich statement.
The deal was announced Nov. 15 and was subject to U.S. government regulatory approval. The terms of the cash transaction have not been disclosed. The Raytheon [RTN] unit based in El Segundo, California, had revenues of $152 million in 1999, according to the statement.
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The Raytheon unit develops and manufactures advanced products and technologies used in space transport and payload applications, as well as laser-warning systems and visual surveillance systems originally developed for military applications.
"While many of these products were originally developed for military applications, there are considerable opportunities in the commercial arena, which Goodrich will pursue," the statement said.
Charlotte, North Carolina-based BF Goodrich [GR] has undergone a rapid expansion, tripling in size in the past three years under the leadership of Chairman and Chief Executive Officer David L. Burner. Aerospace components, systems and services account for nearly 84 percent of the total sales of $4.3 billion in 1999, according to BF Goodrich.
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