Goodrich Corp.―one of the most acquisitive aerospace companies―will make no major transactions for the next two years so management can concentrate on what may well be their biggest merger-related challenge thus far: integration of the former TRW Aeronautical Systems (AS) business. Goodrich has completed no fewer than 40 acquisitions since the mid-1980s, when its evolution from a tire maker to a top-tier aerospace supplier began. Today it's the industry's largest non-engine supplier to the Boeing Co. and Airbus, with sales approaching $4.5 billion. The fact that management has put its strategic acquisition program on hold underscores just how much work they believe is ahead of them.
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