SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) February 17, 1999
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THE B.F.GOODRICH COMPANY
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(Exact name of registrant as specified in charter)
New York 1-892 34-0252680
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
4020 Kinross Lakes Parkway, Richfield, Ohio 44286-9368
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code 330-659-7600
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Not Applicable
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(Former name or former address, if changed since last report.)
<PAGE>
Item 5. Other Events
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On February 17, 1999, The B.F.Goodrich Company ("BFGoodrich") issued a
press release announcing that BFGoodrich will restructure its Performance
Materials business. Reference is made to Exhibit 99.1 hereto which is a copy of
the press release.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
THE B.F.GOODRICH COMPANY
By /s/Nicholas J. Calise
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Nicholas J. Calise, Secretary
Dated: February 19, 1999
Exhibit 99.1
The BFGoodrich Company Media Contact: Rob Jewell
4020 Kinross Lakes Parkway (330) 659-7999
Richfield, Ohio 44286 Investor Contact: John Bingle
(330) 659-7788
BF GOODRICH TO RESTRUCTURE PERFORMANCE MATERIALS BUSINESS
Cost Savings of $10-12 Million Expected
RICHFIELD, Ohio, February 17 -The BFGoodrich Company today announced it
will realign its Brecksville, Ohio-based Performance Materials business in order
to strengthen customer and market focus, simplify business structure and enhance
productivity. The actions are expected to result in cost savings of $10 to $12
million annually.
"Our Performance Materials businesses will move into the new millennium
leaner, stronger and more agile," said David L. Burner, BFGoodrich chairman and
chief executive officer. "As a result of this realignment, our Performance
Materials businesses will be more responsive to our global customers and better
able to support the growth and profitability goals of our company."
David B. Price, president and chief operating officer, BFG Performance
Materials and an executive vice president of BFGoodrich, said that as part of
the realignment, 150 to 160 of the 625 positions at the Brecksville headquarters
will be eliminated.
"This action represents an ambitious realignment of our Performance
Materials businesses that we believe is essential in order to enhance our
ability to grow globally, facilitate acquisition integration and reduce our
costs," Price said. "This realignment will drive margin improvement, support
earnings growth and foster closer alignment with customer expectations." Price
said the realignment also will enable the Performance Materials business to move
quickly to deliver products and technologies.
"We understand the upheaval and turmoil that these actions will cause
for a number of our colleagues," Price said. "But we believe that this
realignment is necessary for us to move ahead, poised for profitable growth in a
competitive global economy."
BFGoodrich is leading provider of aircraft systems and services and
performance materials for a wide range of consumer and industrial products.
February 17, 1999
