Goodrich Corporation (NYSE: GR)
has received a $49 million contract from Northrop Grumman Shipbuilding
to provide a number of composite components for the next eight Virginia
Class nuclear fast attack submarines, collectively referred to as Block
III.
Virginia Block III
Goodrich's
Engineered Polymer Products team in Jacksonville, Fla. is building
components to support the construction of one ship per year in 2009 and
2010, rising to two ships per year from 2011 through 2013. The
components include the bow dome, and sonar and weapons equipment.
"These contract awards continue the core work that is the foundation
of our submarine business," said Jim Pollock, vice president for
Goodrich's Engineered Polymer Products team. "We have been able to
expand our composite product content on the Virginia-class Block III
multi-year buy, and will remain focused on securing additional content
for Block III as well as developing composite solutions for
Virginia-class Block IV and the Ohio-class replacement submarine. We
will continue to invest in our people, processes and technology to
provide innovative world-class solutions for submarines."
The
Virginia-class submarines are the first U.S. Navy combatant designed
for the post-Cold War era. Unobtrusive, non-provocative and connected
with land, air, sea and space-based assets, the Virginia-class
submarines are equipped to wage multi-dimensional warfare around the
globe, providing the U.S. Navy with continued dominance in coastal
waters and the open ocean.
General
Dynamics Electric Boat with its construction partner Northrop Grumman
Shipbuilding has contracts to build a total of 18 Virginia-class ships;
30 ships are planned altogether.
Goodrich Corporation, a Fortune
500 company, is a global supplier of systems and services to aerospace,
defense and homeland security markets. With one of the most
strategically diversified portfolios of products in the industry,
Goodrich serves a global customer base with significant worldwide
manufacturing and service facilities. For more information visit http://www.goodrich.com.
Goodrich
Corporation operates through its divisions and as a parent company for
its subsidiaries, one or more of which may be referred to as "Goodrich
Corporation" in this press release.GR - Nacelles and Interior Systems
Forward Looking Statements
Certain
statements made in this release are forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
regarding the company's future plans, objectives, and expected
performance. Specifically, statements that are not historical facts,
including statements accompanied by words such as "believe," "expect,"
"anticipate," "intend," "estimate," or "plan," are intended to identify
forward-looking statements and convey the uncertainty of future events
or outcomes. The company cautions readers that any such forward-looking
statements are based on assumptions that the company believes are
reasonable, but are subject to a wide range of risks, and actual
results may differ materially.
Important
factors that could cause actual results to differ include, but are not
limited to the actual amount of product purchased by the customer and
changing priorities or reductions in the defense budget in the U.S.
Further information regarding the factors that could cause actual
results to differ materially from projected results can be found in the
company's filings with the Securities and Exchange Commission,
including in the company's Annual Report on Form 10-K for the year
ended December 31, 2008 and the company's quarterly report on Form 10-Q
for the quarter ended September 30, 2009.
The
company cautions you not to place undue reliance on the forward-
looking statements contained in this release, which speak only as of
the date on which such statements were made. The company undertakes no
obligation to release publicly any revisions to these forward-looking
statements to reflect events or circumstances after the date on which
such statements were made or to reflect the occurrence of unanticipated
events.
SOURCE Goodrich Corporation; GR - Nacelles and Interior Systems
RELATED LINKS
http://www.goodrich.com
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