Goodrich to acquire Sensors Unlimited

Goodrich Corp has entered into a definitive agreement to acquire Sensors Unlimited.

Goodrich Corp has entered into a definitive agreement to acquire Sensors Unlimited.

The $60 million cash transaction, which has been approved by the Boards of Directors of Goodrich and Sensors Unlimited is expected to close in the fourth quarter of 2005.

The transaction is subject to approval by US regulatory agencies.

2005 sales for the new business are expected to be $19 million.

Under the terms of the agreement, Goodrich will acquire a business that has pioneered the design and production of short wave infra-red (SWIR) technology.

Sensors Unlimited is a leader in indium gallium arsenide (InGaAs) imaging technology - which provides superior imaging performance in extremely low light conditions - and has in-house manufacturing capabilities for advanced infra-red cameras and short wave infra-red and near infra-red focal plane arrays.

Sensors Unlimited products have a presence in a variety of markets such as: military; security; industrial; commercial; and telecommunications.

Applications range from covert surveillance, night vision and health and safety protocols to historical art inspection.

These products align with existing Goodrich positions in intelligence, surveillance and reconnaissance systems and are expected to create opportunities for additional growth in new and emerging markets.

According to Marshall Larsen, Chairman, President and Chief Executive Officer of Goodrich: "This is a strategically important acquisition for our surveillance and reconnaissance business".

"We continue to build on our growing presence in the defense and homeland security markets".

"Short wave infra-red sensors and near infra-red imaging systems, created with indium gallium arsenide technology, will significantly strengthen our position in the high-growth markets for surveillance and reconnaissance systems as well as homeland security applications".

"For example, our DB-110 airborne reconnaissance system, a Goodrich technology currently flying with the UK's Royal Air Force, which will also be flying with Poland's Ministry of National Defense, is capable of leveraging the addition of short wave infra-red technology".

"Our laser perimeter awareness systems that support emerging homeland security needs may also incorporate short wave infra-red technology to enhance their capabilities; thereby expanding the already broad portfolio of solutions we can offer to the marketplace".

With a 3600m2 facility in Princeton, New Jersey and more than 50 employees in manufacturing and engineering roles, the new business will become part of Goodrich's existing Optical and Space Systems Division.

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