CHARLOTTE, N.C., Oct. 25, 2010 /PRNewswire/ -- Goodrich Corporation (NYSE: GR) has received a follow-on contract worth over 7 million pounds Sterling (approximately US $10 million) from the UK Ministry of Defence (MoD) for Performance Based Logistics (PBL). The contract continues a decade of support for a number of legacy instruments used on a range of UK jets and helicopters in operational service. The contract was awarded to Plymouth, UK-based Atlantic Inertial Systems (AIS), which became part of Goodrich's Sensors and Integrated Systems in December 2009.
"A decade ago our Plymouth business was one of the first recipients of a PBL contract in the UK," said Jim Chapman, VP Operations, Atlantic Inertial Systems. "We believe this follow-on contract is a testimony to the quality and efficiency of the support we have provided to the RAF since that time," he added.
Goodrich's AIS team is a leading provider of mission-critical guidance, navigation and stabilization products and systems for military and commercial markets. In addition to design, development and production of MEMS devices and the TERPROM® software system, the AIS Plymouth, UK operation provides spares, repairs and obsolescence management for legacy equipment. Products supported include mechanical gyrocompasses and control systems for aircraft such as the Hawk and Sea King.
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.
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, including the statement regarding the potential value of the contract. 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 UK Ministry of Defense and the potential cancellation of orders. 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, 2009 and the company's quarterly report on Form 10-Q for the quarter ended September 30, 2010.
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 - Electronic Systems