CLEVELAND, Oct. 26 (UPI) -- A U.S. designer and supplier of aircraft components is buying Goodrich Pump and Engine Control Systems.
The TransDigm Group Inc. said the acquisition is expected to be completed late this year or next year, subject to regulatory approvals. Purchase terms: About $236 million in cash.
"GPECS is a long-established proprietary business with significant aftermarket content and an outstanding reputation," said W. Nicholas Howley, chairman and chief executive officer of TransDigm. "The highly engineered products are both a good fit with our overall strategy and also allow us to expand our content on a number of substantial engine applications.
"As with all TransDigm acquisitions, we see opportunities for significant value creation."
Connecticut company GPECS manufactures aerospace fuel systems -- electronic engine controls, fuel metering units, main fuel pumps for commercial and military markets. Among engine platforms using the components are the T700 by General Electric, Honeywell's T55 and Rolls-Royce's M250.