The company cited a decline in program volume and the lack of appropriate new work to cost-effectively fill available capacity as reasons for closing the facility.
The Marble Avenue facility, which supplies a range of landing gear equipment for commercial and military customers, employs about 400 workers. The company said it will gradually transfer all activities currently performed at Marble Avenue to other landing gear facilities.
Charlotte, North Carolina-based Goodrich said that as previously announced, it will record a charge associated with the facility closure. The company expects to record pre-tax charges totaling about $39 million, of which 40% are non-cash.
The company noted that none of these charges were included in its 2011 earnings outlook, released on April 21, 2011. The company will update the 2011 guidance for these items and other business-related revisions as part of the announcement of its financial results for the second quarter on July 28, 2011.
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