Goodrich is in line for £12bn takeover

Aerospace giant Goodrich is being bought in a £12 billion takeover deal by a US firm.

United Technologies is buying the company, one of Wolverhampton's biggest private employers, with 1,100 workers at its Stafford Road site as well as 26,000 other staff worldwide.

The firm already owns neighbouring HS Marston Aerospace, in Wobaston Road.

Following the takeover deal, United Tech will merge its Hamilton Sundstrand aircraft components arm – which includes HS Marston – with Goodrich, calling the new business United Technologies Aerospace Systems.

The aim is to take advantage of a record surge in commercial aircraft orders.

Louis Chenevert, chairman and chief executive of United Technologies, said: "Goodrich delivers on all of our acquisition criteria. It is strategic to our core, has great technology and people, and strengthens our position in growth markets.

"We are very excited to bring the capabilities of two great companies together, making us more competitive and better able to provide value to both customers and shareholders."

The move will give the combined business a huge slice of the aircraft componet market. Goodrich parts are used in both Boeing an Airbus passenger jets.

The deal is not expected to have a major impact on the two Wolverhampton factories, which work on different components.