CHARLOTTE, N.C. (May 25)—B.F. Goodrich Co. will purchase Dana Corp.'s Glacier Industrial Bearings business and combine it with Garlock Bearings, Goodrich's self-lubricated polymer bearings business. Once the deal is finalized, Goodrich will become a major global player in the industrial products market, a Goodrich spokesman said. Terms of the transaction, expected to close in the third quarter, were not disclosed. The purchase will be funded from Goodrich's cash balances. Under the pact, Goodrich is purchasing research and development along with manufacturing operations in England, Scotland, France, Germany, Slovakia and Brazil. It also gets all the patents, trademarks and intellectual property associated with the polymer bearings business. Dana will retain all personnel and assets in its engine bearings business.
Goodrich to buy industrial polymer bearings business
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