logo
  Join        Login             Stock Quote

Woodward (WWD) Pays $200M To Acquire Unit From GE Aviation Business

 December 28, 2012 10:17 AM
 


(By Balachander) Woodward Inc. (NASDAQ: WWD) agreed to acquire a business from General Electric Co.'s (NYSE: GE) aviation unit for $200 million to strengthen its aerospace business.

The designer of controls systems expects the purchase to slightly add to its earnings per share for fiscal year 2013.

"The acquisition of the Duarte Business by Woodward's Aerospace segment provides us with expanded motion control technologies and platforms, more specifically Thrust Reverser Actuation Systems," commented Woodward CEO Thomas Gendron.

[Related -General Electric Company (GE) Q4 Earnings Preview: Feeling The January Effect]

The Duarte Business includes customers such as Boeing, GE, Safran and the U.S. government. Its products are used primarily on commercial aircraft such as the Boeing 737, 747 and 777, and Airbus A320.

According to Woodward, the Duarte Business' sales are expected to be roughly $150 million for fiscal 2013.

Woodward said it has committed financing and available cash sufficient to fund the payment of the purchase price and also provide short-term liquidity after closing. Woodward added it has a $400 million revolving credit facility in place, substantially all of which is currently available.

Woodward's aerospace systems and components optimize the performance of fixed wing and rotorcraft platforms in commercial, business and military aircraft, ground vehicles and other equipment.

WWD shares fell 0.69 percent to trade at $37.39 on Friday.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageChart Says This Retailer's Comeback Isn't Finished

One of the surprises, at least on the surface, of the market's recent swoon was the outperformance of read on...

article imageETF Performance Review: Major Asset Classes | 19 Dec 2014

It’s all about real estate investment trusts (REITs) these days when it comes to bullish performance among read on...

article imageOil and Global Stock Markets Rebounding Sharply

So far so good on our expectation of a 4 to 5% pullback and then a resumption of the bull read on...

article imageGrading the FOMC

Love its members or loathe them, you have to admire the gradual impact the policy-making committee has had read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.