Goodrich has entered into an agreement to purchase the business jet cabin asset management business of DeCrane for $280 million.
The transaction is expected to close this month, and Goodrich explains the agreement does not include DeCrane's aircraft completion business.
Goodrich forecasts 2010 sales of $170 million for the unit it is acquiring that focuses on seating, furniture, veneers, cabin management systems an inflight entertainment systems for business jets.
For the third quarter, Goodrich expects the acquisition to be slightly dilutive, but accretive after that timeframe.
DeCrane has roughly 850 employees at six US facilities, and its customers include business jet manufacturers Bombardier, Cessna, Dassault, Embraer and Gulfstream.
The DeCrane assets will become part of Goodrich's interiors business, which falls in its nacelles and interior systems segment.
Source: Air Transport Intelligence news
