Woodward Acquires Barber-Colman Dyna Products.Business Editors ROCKFORD, Ill.--(BUSINESS WIRE)--Aug. 12, 2003 Woodward Governor Company The Woodward Governor Company is the world's oldest and largest independent designer, manufacturer, and service provider of energy control solutions for aircraft engines, industrial engines and turbines, power generation and mobile industrial equipment. (Nasdaq:WGOV) announced today that it signed an agreement with Invensys plc to acquire its Barber-Colman Dyna Products division. Barber-Colman Dyna Products manufactures and distributes controls for off-highway diesel and gas engines and mobile industrial equipment. The terms of the agreement were not disclosed. "Barber-Colman Dyna Products' customer base and product lines fit well with our energy control technologies strategy. The acquisition expands our technology base, strengthens key customer relationships, and adds key products," said Tom Gendron, president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. . Gendron added, "The acquired business is expected to add approximately $15 million of revenue and is expected to be accretive to earnings in fiscal year 2004." With proven technologies for electrically actuated ac·tu·ate tr.v. ac·tu·at·ed, ac·tu·at·ing, ac·tu·ates 1. To put into motion or action; activate: electrical relays that actuate the elevator's movements. 2. valves and gaseous gas·e·ous adj. 1. Of, relating to, or existing as a gas. 2. Full of or containing gas; gassy. fuel systems, as well as user-friendly digital speed control products, Barber-Colman Dyna Products systems and components serve markets in which Woodward plays a significant role. Woodward plans to consolidate Barber-Colman Dyna Products into its existing facilities in Fort Collins, Colo., and Niles, Ill., in fiscal year 2004. About Barber-Colman Dyna Products Formed in 1973 to manufacture and distribute controls for diesel and gas engines, Barber-Colman Dyna Products was part of Invensys plc. Based in Loves Park, Illinois Loves Park is a suburb of Rockford, Illinois in Winnebago County, Illinois, United States. In recent years, the city spread across the eastern Winnebago county line and now reaches into Boone County, Illinois. The population was 20,044 at the 2000 census. , Barber-Colman Dyna Products manufactures engine actuators, speed controls, generator set controls, and off-highway engine control systems, and offers these products to engine and equipment manufacturers. About Woodward Woodward is the world's largest independent designer and manufacturer of energy control solutions for aircraft and industrial engines, turbines and power equipment. The company's innovative controls and fuel delivery systems help manufacturers worldwide operate cleaner and more efficient power equipment. Woodward's products and services are used in the aerospace, power generation, oil and gas processing, and transportation markets, which include rail, marine and many light and heavy industrial applications. Woodward is headquartered in Rockford, Illinois Rockford is a mid-sized city located on both banks of the Rock River in far northern Illinois. Rockford is often referred to as "The Forest City" and is the county seat of Winnebago County, Illinois, USA. As reported in the 2000 U.S. , and serves global markets from locations worldwide. Visit our Web site 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 forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties. Such risks include, but are not limited to, our ability to maintain current customer relationships with manufacturers and distributors. 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 Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended September 30, 2002, and Form 10-Q Form 10-Q See 10-Q. for the quarterly period ended June 30, 2003. |
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