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Goodrich Corporation has received an order from KLM, to provide wheels and carbon brakes for all new deliveries of 737 Next Generation aircraft, manufactured by The Boeing Company (BA - Analyst Report), and to retrofit its 77 existing 737 Next Generation aircraft fleet.

Goodrich plans to deliver the first carbon brake equipped 737 Next Generation aircraft in August 2011 with retrofits beginning thereafter. 

Goodrich's 737 Next Generation carbon brakes are made of proprietary DURACARB carbon heat sink material, which provides exceptional brake performance. The new carbon brakes also provide a 35% brake life advantage over competitive equipment.

Additionally, Goodrich’s wheels and carbon brakes are capable of providing a weight reduction of about 700 pounds per aircraft compared to high capacity steel brakes. This exceptionally long brake life and weight reduction offered by the new carbon brakes will provide significant operating and fuel cost savings for the airline.

With the selection of Goodrich's advanced lightweight wheels and carbon brakes KLM will enhance the operational performance of its 737 Next Generation fleet. The airline said the new carbon brakes offer superior landing performance with lower weight, reducing fuel burn and lowering carbon dioxide emissions.

Goodrich is the only wheel and brake supplier providing both steel and carbon brakes for the 737 Next Generation program. Goodrich presently supplies carbon brakes to nine 737 Next Generation customers, which represents a 50% market share of aircraft orders.

Air France KLM currently deploys Goodrich wheel and brake equipment on more than 200 aircraft including its 737 Classic, 737 Next Generation, 747-400, 747-400ERF, 777-200ER, 777-200LRF and 777-300ER fleets.

Based in Charlotte, North Carolina, Goodrich Corporation is a global supplier of systems and services to aerospace, defense and homeland security markets.  With one of the most strategically diversified portfolios of products in the industry, Goodrich serves a global customer base with significant worldwide manufacturing and service facilities.

The company presently retains a short-term Zacks #3 Rank (Hold). We have a long-term Neutral recommendation on the stock. In the near term, the company has some competition from peers like Astronics Corp. (ATRO - Snapshot Report) that holds a Zacks #1 Rank (Strong Buy rating).

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