BF Goodrich Completes Rohr Merger
David L. Burner, BFGoodrich chairman and chief executive officer, said: "We are extremely pleased with how our two organizations were able to work together effectively and cooperatively to complete this transaction on schedule. The merger makes us a stronger competitor and allows us to expand our capabilities to provide customers with integrated aircraft systems and services."
Rohr shareholders will receive 0.7 shares of BFGoodrich common stock for each share of Rohr common stock. They will receive written instructions for exchanging their share certificates. BFGoodrich shareholders will keep their certificates, Rohr common stock will no longer be traded on the New York Stock Exchange following the close of business today.
Rohr, headquartered in Chula Vista, Calif, primarily designs, develops and integrates nacelle and pylon systems and provides support services. Nacelles are the aerodynamic structures that surround an aircraft's engines. Rohr will now be operated as the Aerostructures Group, one of four BFGoodrich Aerospace business groups.
The BFGoodrich Board elected three new directors, effective upon the merger with Rohr, all of whom previously served as directors of Rohr, Inc. Elected as directors of The BFGoodrich Company were:
Robert H. Rau. Rau, 61, is president of the Aerostructures Group, BFGoodrich Aerospace. Prior to the merger, he was president and chief executive officer of Rohr.
Diane C. Creel. Creel, 49, is chief executive officer and president of Earth Tech, an international consulting engineering firm headquartered in Long Beach, Calif.
James R. Wilson. Wilson, 56, is chairman, president and chief executive officer of Thiokol Corporation. Thiokol, based in Ogden, Utah, produces high technology solid rocket motors for space, defense, and commercial launch applications, precision fastening systems for aerospace and industrial markets and high performance cast components for aircraft and industrial gas turbine engines.
The election of Rau, Creel and Wilson increases the BFGoodrich Board to 16.
In addition to aircraft systems and services, The BFGoodrich Company manufactures specialty chemicals. With the addition of Rohr, BFGoodrich has about 18,000 employees and annual sales in excess of $3 billion.
SOURCE The BFGoodrich Company
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CO: BF Goodrich Company; Rohr, Inc. ST: California, Ohio IN: ARO CHM SU: TNM PER
BG-MS -- CLM005 -- 3603 12/22/97 13:16 EST http://www.prnewswire.com