SOURCE: Woodward, Inc.

Woodward, Inc.

June 23, 2011 15:00 ET

Woodward Wins Bombardier CSeries Aircraft Contracts

FORT COLLINS, CO--(Marketwire - Jun 23, 2011) - Woodward, Inc. (NASDAQ: WWD) today announced that the company secured new contracts to provide key products for the Bombardier* CSeries* aircraft. These awards include the fly-by-wire LRU (Line Replaceable Unit) Rudder Pedal Assemblies, Cargo Compartment Door and APU (Auxiliary Power Unit) door actuation systems, including integral electronic control units.

The CSeries aircraft family includes the single-aisle 110-passenger CS100* and 130-passenger CS300* jets. Both are expected to enter into service in 2013. The components, jointly developed by Woodward and Bombardier, mark the continuation of a long-term, cooperative relationship between the companies.

"Our extensive experience with these products means lower program and development risks for our customer," says Marty Glass, President, Airframe Systems. "We are pleased to be strengthening our relationship with Bombardier."

Woodward manufactures a wide variety of cockpit control and actuation systems solutions, along with engine control and combustion systems for the aerospace industry. The CSeries aircraft program is the fifth to select Woodward's LRU rudder pedal designs.

All these products introduce innovative technologies, including a variety of weight-saving materials and energy-optimized solutions. The components Woodward supplies will ultimately result in a net savings in aircraft operating cost, due to lower maintenance costs and higher reliability.

These add to the list of equipment Woodward will supply for the aircraft -- most notably, the previously announced throttle quadrant assembly, one of Woodward's Next Generation Series of autothrottles.

Woodward also provides combustion, actuation, and oil system components for the Pratt & Whitney PurePower™ PW1500G engine which powers the Bombardier CSeries aircraft.

* Trademarks of Bombardier or its subsidiaries.

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

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, Woodward's expectation that both the 130-passenger CS300 and 110-passenger CS100 jets will enter into service in 2013, the Company's belief that the components described in this release mark the continuation of a long-term, cooperative relationship between the companies, our belief that our extensive experience with these products means lower program and development risks for our customer and that we will be strengthening our relationship with Bombardier, and our expectation that the components we supply will ultimately result in a net savings in operating cost of the aircraft due to lower maintenance costs and higher reliability. 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

    Rose Briani-Burden
    Business Communications

    Woodward, Inc.
    1000 East Drake Road
    Fort Collins, Colorado 80525, USA
    Tel: 970-482-5811
    Fax: 970-498-3058