Goodrich Receives Additional Contract for C-5M Super Galaxy

CHARLOTTE, N.C., Nov. 3, 2010 /PRNewswire-FirstCall/ -- Goodrich Corporation (NYSE: GR) has received a production contract from Lockheed Martin to supply 160 pylons for the U.S. Air Force C-5 Galaxy strategic airlifter Reliability Enhancement and Re-engining Program (RERP). Goodrich content is expected to generate $300 million in revenue for the additional 40 C-5B/C aircraft planned to be upgraded in the RERP, excluding any aftermarket revenue. Work will be performed by Goodrich's Aerostructures  teams in Chula Vista, Calif. and Foley, Ala.

The contract is a follow-on to an earlier agreement between Goodrich and Lockheed Martin to provide pylons and nacelles for three test aircraft as well as nine airplanes in the initial phases of the RERP. Goodrich also holds a Life of Program contract with General Electric Aircraft Engines (GEAE) to provide nacelles for the GE CF6-80C2 engines that will power all 49 C-5Ms in the RERP. The pylons - the structures that attach the propulsion system to the aircraft's wing - are to be delivered in early 2011 through the end of 2015 under the new contract.

"The Goodrich and Lockheed Martin teams created a win-win solution that allows both companies to meet the program affordability targets. This speaks highly about how we've developed a positive working-together relationship with Lockheed Martin over the course of this program," said Tim Dumbauld, vice president of Military Programs for Goodrich Aerostructures. "This critical re-engining program keeps the C-5M Super Galaxy as a force enabler through 2040."

Goodrich had been delivering one pylon per month under the previous contract until July, when the rate increased to two per month. The rate will increase in subsequent years to four pylons per month. Each Lockheed Martin C-5M Super Galaxy will be powered by four GE CF6-80C2 engines; each engine requires a nacelle system and pylon.

The C-5M Super Galaxy redefines strategic airlift and set 42 world aviation records in 2009. It is the only aircraft capable of carrying 100 percent of certified air-transportable cargo, with a dedicated passenger compartment enabling commanders to have troops and their equipment arrive in an area of operation simultaneously.

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 www.goodrich.com.

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 products and services purchased under the contracts; potential cancellation of orders by customers; and changing priorities or reductions in the U.S. defense budget which could affect the viability of the C-5 RERP program. 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.

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.

SOURCE Goodrich Corporation; GR - Nacelles and Interior Systems