Woodward to Buy Hydraulic Thrust Actuation Systems Unit from GE
Woodward, Inc. (NASDAQ: WWD) today announced that on December 27, 2012, it signed a purchase agreement with GE Aviation Systems to acquire the assets of its hydraulic thrust reverser actuation systems business located in Duarte, California (the "Duarte Business") for $200 million in cash, and the parties have entered into a preferred supplier agreement for thrust reverser actuation systems. The transaction is expected to close later today.
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.