 | |
| Company type | Public |
|---|---|
| NYSE: GR | |
| Industry | Aerospace |
| Founded | 1870 (as B.F. Goodrich Company) Akron, Ohio U.S. |
| Defunct | July 26, 2012 |
| Fate | Acquired by United Technologies Corporation Tire division sold to Michelin |
| Headquarters | Charlotte, North Carolina, U.S. |
Key people | Marshall Larsen (Chairman & CEO) |
| Products | Actuation systems Aerostructures Aircraft wheels and brakes Electrical power systems Engine components Engine control systems Engineered Polymer Products Interiors ISR systems Undercarriage/landing gear Sensors and integrated systems |
| Website | www |
The Goodrich Corporation, formerly the B.F. Goodrich Company, was an American manufacturing company based in Charlotte, North Carolina. Founded in Akron, Ohio in 1870 as Goodrich, Tew & Co. by Dr. Benjamin Franklin Goodrich, the company name was changed to the "B.F. Goodrich Company" in 1880, to BFGoodrich in the 1980s, and to "Goodrich Corporation" in 2001. Originally a rubber manufacturing company known for automobile tires, the company diversified its manufacturing businesses throughout the twentieth century and sold off its tire business in 1986 to focus on its other businesses, such as aerospace and chemical manufacturing. The BFGoodrich brand name continues to be used by Michelin, who acquired the tire manufacturing business in 1988. Following the acquisition by United Technologies in 2012, Goodrich became a part of UTC Aerospace Systems.
In 1869, Dr. Benjamin Franklin Goodrich purchased the Hudson River Rubber Company, a small business in Hastings-on-Hudson, New York. The following year Dr. Goodrich accepted an offer of $13,600 from the citizens of Akron, Ohio, to relocate his business there.
The company grew to be one of the largest tire and rubber manufacturers in the world, helped in part by the 1986 merger with Uniroyal (formerly the United States Rubber Company). This product line was sold to Michelin in 1988, and the company merged with Rohr (1997), Coltec Industries, and TRW Aeronautical Systems (formerly Lucas Aerospace) in 2002. The sale of the specialty chemicals division and subsequent change to the current name completed the transformation. In 2006, company sales were $5.8 billion, of which 18%, 16% and 12% of total revenues were accounted for by the U.S. government, Airbus and Boeing, respectively.[1]
In 1988, the Goodrich Corporation sold its tire business and rights to the Goodrich name to French company Michelin. During the 1970s, Goodrich ran television and print ads to distinguish themselves from the similar-sounding Goodyear tire company. The tag line was, "We're the other guys. Remember?" The company was also sometimes confused with Mr. Goodwrench as the two last names were similar, especially since B.F. Goodrich tires were featured on many General Motors cars and trucks.
- ^ Standard and Poor's 500 Guide. The McGraw-Hill Companies, Inc. 2007. ISBN 978-0-07-147906-6.