SOURCE: Woodward, Inc.

Woodward, Inc.

August 09, 2011 16:30 ET

Woodward and General Electric Aviation Sign Agreement for Passport 20 Engine and NG34 Technology Programs

FORT COLLINS, CO--(Marketwire - Aug 9, 2011) - Woodward, Inc. (NASDAQ: WWD) announced today that it signed an agreement with General Electric Company, through its GE Aviation business unit, to develop and supply the fuel system, air management, and actuation hardware for the GE Passport 20 engine and NG34 technology development program. Under the agreement, Woodward will be responsible for specifications, design, certification, production, and after-sale support.

Passport 20 is the next-generation GE Aviation engine for the large business aviation market. Bombardier selected the Passport 20 engine exclusively to power its Global 7000 and 8000 long-range business aircraft, which are projected to enter service in 2016 and 2017, respectively. The NG34 technology development program will mature technology for the next generation CF34 engine for regional jets.

"We're pleased to be able to support the GE Passport 20 and NG34 programs with our latest technologies for fuel, air management, and actuation systems," said Tom Gendron, Chairman and Chief Executive Officer, Woodward, Inc.

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 energy, combustion control, electrical energy, and motion control systems help customers offer cleaner, more reliable, and more efficient 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 www.woodward.com.

About GE Aviation

GE Aviation, an operating unit of GE (NYSE: GE), is a world-leading provider of jet engines, components and integrated systems for commercial and military aircraft. GE Aviation has a global service network to support these offerings. GE Aviation Systems LLC, GE Aviation Systems Ltd, and Naverus, Inc. are subsidiaries of GE. For more information, visit us at www.ge.com/aviation. Follow GE on Twitter at http://twitter.com/GEAviation and YouTube at http://www.youtube.com/user/GEAviation.

Passport 20 is a trademark of GE Aviation.

*Bombardier and Global 7000 and 8000 are trademarks of Bombardier Inc.

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. Such forward-looking statements include but are not limited to the projection that Bombardier's Global 7000 and 8000 long-range business aircraft are to enter service in 2016 and 2017, respectively, and the expectation that the NG34 technology development program will mature technology for the next generation CF34 engine for regional jets. 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 Annual Report and Form 10-K for the year ended September 30, 2010 and any subsequently filed Quarterly Report on Form 10-Q.

Contact Information

  • CONTACT:
    Rose Briani-Burden
    Business Communications
    815-639-6282