Goodrich announced it will close its Marble Avenue landing gear facility in Cleveland, Ohio by the end of 2012 due to program volume decline and the lack of appropriate new work to cost-effectively fill available capacity. Approximately 400 employees are located at the facility which supplies a range of landing gear equipment for commercial and military customers. The activities currently performed at Marble Avenue will be gradually transferred to other landing gear facilities. As previously disclosed, Goodrich will record a charge associated with the facility closure. The company expects to record pre-tax charges totaling approximately $39 million of which 40 percent are non-cash. Approximately $16 million will be recorded in the second quarter of 2011 and approximately $5 million will be recorded in the second half of 2011. Approximately $15 million will be recorded in 2012. None of these charges were included in the company’s 2011 outlook, released on April 21, 2011.
Learn more on how AviTrader can expand your market
Please contact
Tamar Jorssen
Vice President Sales & Marketing
+1.778.213.8543
[email protected]
Mailing Address
AviTrader Publications Corp.
Suite 305, South Tower
5811 Cooney Road
Richmond, BC V6X 3M1
Canada
[email protected]
Mailing Address
AviTrader Publications Corp.
Suite 305, South Tower
5811 Cooney Road
Richmond, BC V6X 3M1
Canada