UTC completes Goodrich acquisition

United Technologies Corporation (UTC) has finally completed the USD18.4 billion acquisition of Goodrich Corporation, creating a new aerospace systems business with a payroll of 40,000 and annual sales in the region of USD12 billion.

Completion of the purchase, which was first announced in September 2011, was announced on 14 August.

The deal – valued at USD16.5 billion, or USD18.4 billion with the assumption of Goodrich's debt – marks the biggest acquisition in UTC's history and the largest aerospace acquisition of its kind in the last decade. It is the biggest UTC deal since the acquisition of Sundstrand for USD4 billion in 2009.

Prior to completion of the deal, UTC announced a series of changes to its structure to take into account the addition of Goodrich.