Woodward Signs Long-Term Agreement With Caterpillar
FORT COLLINS, CO -- (Marketwire) -- 07/16/12 -- Woodward, Inc. (WWD) today announced that it signed a long-term supply agreement with Caterpillar Inc.
The ten-year agreement addresses design collaboration opportunities and the supply of Woodward energy controls technologies -- including diesel fuel injection systems, natural gas engine control system components, electronic controls, actuators, and valves -- to Caterpillar.
"We have worked with Caterpillar for decades on various engine control technologies and we look forward to expanding our business with them in these and new areas of opportunity," said Chad Preiss, President of Engine Systems, Woodward, Inc. "This long-term supply agreement enhances our ability to introduce new technologies on both new and existing platforms to increase fuel efficiency, lower emissions, and enhance the reliability of industrial engines and equipment."
About Woodward, Inc.
Woodward is an independent designer, manufacturer, and service provider of control solutions for the aerospace and energy markets. Our aerospace systems and components optimize the performance of fixed wing and rotorcraft platforms in the commercial, business and military aircraft, ground vehicles and other equipment. Our energy-related systems and components enhance the performance of industrial gas and steam turbines, reciprocating engines, compressors, wind turbines, electrical grids and other energy-related industrial equipment. 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, Colorado, USA. Visit our website at www.woodward.com.
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 the long-term supply agreement with Caterpillar enhances Woodward's ability to introduce new technologies on both new and existing platforms to increase fuel efficiency, lower emissions, and enhance the reliability of industrial engines and equipment. 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, 2011 and any subsequently filed Quarterly Report on Form 10-Q.
CONTACT: Rose Briani-Burden Business Communications 815-639-6282 Woodward, Inc. 1000 East Drake Road Fort Collins, Colorado 80525, USA Tel: 970-482-5811 Fax: 970-498-3058
Source: Woodward, Inc.