Woodward, Inc. announced that it has entered into an agreement to sell its pilot controls product line and associated services to Ontic Engineering and Manufacturing. The transaction includes Woodward?s portfolio of pilot controls for commercial and defense applications, such as throttle quadrant assemblies, rudder pedals, and passive side sticks that are currently manufactured at Woodward?s facility in Niles, Illinois. It is subject to customary closing conditions and regulatory approvals.
As part of the transaction, Woodward and Ontic will enter into a long-term supply agreement under which Woodward will remain the sole supplier of certain engineered electromechanical components for pilot controls. In addition, Woodward will provide transition services over a 9-to-12-month period following the transaction close to support continuity of customer delivery.
Woodward, Inc. designs, manufactures, and services energy conversion and control solutions for the aerospace and industrial equipment markets. The Company’s segments include Aerospace and Industrial. The Aerospace segment offers fuel controls and airframe solutions for commercial, defense, business and general aviation. It offers aircraft engine controls, actuation and control systems, flight deck controls, and space and defense solutions. Its aircraft engine controls include fuel control systems, fuel injection and ignition systems, engine actuation systems, and air management. Its actuation and control systems include electromechanical actuation, hydraulic actuation, precision motors, and thrust reverser actuation systems. Its Industrial segment offers control solutions for reliable and clean power generation and control solutions for critical equipment in a decarbonized world. Its products include easYgen-3000XT and Aeroderivative Gas Turbine Gas Fuel Valves.
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