SOURCE: Woodward Governor Company

Woodward Governor Company

November 30, 2009 16:00 ET

Woodward Signs Agreement With REpower for Delivery of Wind Power Converters

FORT COLLINS, CO--(Marketwire - November 30, 2009) - Woodward Governor Company (NASDAQ: WGOV) today announced that it signed a contract with REpower Systems AG to supply wind turbine power converters for five projects in the Canadian province of Quebec under the Hydro-Quebec Distribution wind power project.

REpower will deliver wind turbines that provide up to 954 MW of power. The agreement between REpower and Woodward includes up to 477 wind power converters to be delivered between 2011 and 2015.

"Woodward is proud to be selected as the single-source supplier for the power converters to REpower for the Hydro-Quebec project," said Gerhard Lauffer, Woodward President, Electrical Power Systems. The power converters will be manufactured at Woodward's Colorado plant and will also include content manufactured in the Gaspésie region of Canada.

"This agreement strengthens our relationship with REpower, especially in Canada and the US. In the past several years, the wind turbine market has experienced tremendous growth globally, and we are confident that we will continue to increase sales in the power conversion area in 2010 and beyond," said Mr. Lauffer.

Woodward has supplied CONCYCLE® converters for REpower wind turbines for more than eight years. The converters control the voltage and power from wind turbine generators so voltage and frequency are constant, independent of the variable rotation speed from the wind turbine. The converter ensures the delivery of high-quality power to the grid for the consumer.

About Woodward

Woodward is an independent designer, manufacturer, and service provider of energy control and optimization solutions used in global infrastructure equipment. We serve the aerospace and defense, power generation and distribution, and transportation markets. Our systems and components optimize the performance of commercial aircraft; military aircraft, ground vehicles and other equipment; gas and steam turbines; wind turbines; reciprocating engines; and electrical power systems. The company's innovative fluid and electrical energy and combustion and motion control systems help customers offer cleaner, more reliable and more cost-effective equipment. Our customers include leading original equipment manufacturers and end users of their products. Woodward is headquartered in Fort Collins, Colo., USA. Visit our website at

The statements in this release concerning the company's future sales, earnings, business performance, prospects, and the economy in general reflect current expectations and are forward-looking statements that involve risks and uncertainties. These forward-looking statements include but are not limited to our expectation that REpower will deliver wind turbines that provide up to 954 MW of power, the expected delivery of up to 477 wind power converters between 2011 and 2015, the manufacture of power converters at Woodward's Colorado plant, including content manufactured in the Gaspésie region of Canada, and our expectation to continue to increase power conversion sales in 2010 and beyond. Actual results could differ materially from projections or any other forward-looking statement and we have no obligation to update our forward-looking statements. Factors that could affect performance and could cause actual results to differ materially from projections and forward-looking statements are described in Woodward's Form 10-K filed for the year ended September 30, 2009.

Contact Information

    Rose Briani-Burden
    Business Communications