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Goodrich Completes Asset Monetization Commitment; * Sale of Avionics business to L-3 Communications completed * Sale of Noveon International, Inc. payment-in-kind notes completed * Total asset monetization of more than $550 million since the beginning of the second quarter 2002.

Publication: PR Newswire
Publication Date: 31-MAR-03 		Format: Online - approximately 936 words
Delivery: Immediate Online Access

Article Excerpt
Goodrich Corporation announced today that it has completed the asset monetization commitment it made in connection with its acquisition of the TRW Aeronautical Systems businesses. The company has now completed asset monetization transactions with a value of $550 million since the beginning of the second quarter 2002, including $465 million since the acquisition was completed on October 1, 2002. These amounts exclude estimated future tax payments of approximately $47 million related to the Avionics sale. Other asset monetization activities during the remainder of 2003 will likely offset these tax payments entirely.

Major asset monetization transactions recently completed include the following:

* The sale of Goodrich's Avionics business to L-3 Communications for $188 million, $181 million net of fees, which has been completed. * The sale of the Noveon International payment-in-kind (PIK) notes for $157 million, $153 million net...

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