Goodrich buys bearing business (May 25, 2001)

CHARLOTTE, N.C. — BF Goodrich has made an agreement to purchase Dana Corporation,s Glacier Industrial Bearings business.

The move builds on the company’s business relationship with industrial bearings, as it will combine the Glacier bearings with its existing self-lubricated polymer bearings business, says BF Goodrich.

Terms of the acquisition were not disclosed, but the move is expected to add up to US$0.05 in per-share earnings in the first 12 months. The transaction is expected to close in the third quarter.

Goodrich chairman and chief executive officer Dave Burner says, “the acquisition is a perfect operating and strategic fit for our industrial segment.”

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