CHARLOTTE, N.C. (AP) -- Aircraft parts maker Goodrich Corp. and Britain's Rolls-Royce PLC plan to enter a joint venture to produce engine controls for Rolls-Royce Aero engines, the companies said Thursday.
The 50-50 venture will combine Goodrich's U.K.-based engine controls production business with Rolls-Royce's business of integrating controls into the engine, the companies said.
The companies said they plan to complete the joint venture as soon as possible, subject to regulatory approval.
Shares of Goodrich closed Wednesday at $52.38.
