Goodrich closes purchase of AIS Global Holdings

AP News
Posted: Dec 21, 2009 6:07 PM

Aerospace supplier Goodrich Corp. said Monday it has completed its $375 million purchase of AIS Global Holdings LLC, which makes navigation systems.

Goodrich bought the company from an affiliate of private equity firm J.F. Lehman & Co. The deal was announced Nov. 17.

Goodrich has said that AIS is expected to post 2009 sales of about $180 million. It employs 800 people, making inertial sensors that stabilize aircraft as well as guidance and navigation systems for military customers.

Goodrich said AIS will become part of its Sensors and Integrated Systems business.

Goodrich shares rose 89 cents to close at $64.74.