CHARLOTTE, N.C. (Nov. 29)—B.F. Goodrich Co. has signed an agreement to sell its Performance Materials segment to an investor group for $1.4 billion. The group is headed by AEA Investors Inc. and includes an affiliate of DLJ Merchant Banking Partners and DB Capital Partners Inc. Goodrich will receive $1.2 billion in cash and $200 million in debt securities issued by the new company, and will net $1.2 billion after anticipated tax payments, the company said. The sale completes Goodrich´s transformation into an aerospace and industrial products company and out of the specialty chemicals business, Chairman and CEO David L. Burner said. Its aerospace operation accounts for 84 percent of its business.
B.F. Goodrich to sell unit
Rubber & Plastics News wants to hear from its readers. If you want to express your opinion on a story or issue, email your letter to Editor Bruce Meyer at [email protected].