CLEVELAND, Aug. 10 /PRNewswire-FirstCall/ -- TransDigm Group Incorporated
(NYSE: TDG) announced today that it has acquired certain aerospace related
assets from a wholly-owned subsidiary of Woodward Governor Company (Nasdaq:
WGOV) for approximately $48 million in cash. Woodward recently acquired this
business as part of its acquisition of HR Textron, Inc. The product line has
expected calendar 2009 revenues of approximately $20 million with almost half
coming from the aftermarket.
The acquired product line is composed of a range of highly engineered fuel
and pneumatic valves and surge suppressors. The majority of the product line
revenues are on military rotary and fixed wing aircraft. The remaining
revenues come from other military and commercial aircraft. Top platforms
include F-18, V-22, CH-47, B777, UH-60 (Black Hawk) and the AH-64D (Apache).
W. Nicholas Howley, Chairman and CEO of TransDigm Group Incorporated,
stated, "This proprietary and highly engineered line of aerospace valves is
consistent with our long standing business strategy. The products fit well
with our existing valve offering and will be integrated into our AeroControlex
business during fiscal year 2010."
This is TransDigm's fourth acquisition in the past 10 months.
TransDigm Group Incorporated, through its wholly-owned subsidiaries, is a
leading global designer, producer and supplier of highly engineered aircraft
components for use on nearly all commercial and military aircraft in service
today. Major product offerings, substantially all of which are ultimately
provided to end-users in the aerospace industry, include
mechanical/electromechanical actuators and controls, ignition systems and
components, gear pumps, specialized valves, engineered connectors, power
conditioning devices, specialized fluorescent lighting and AC/DC electric
motors, aircraft audio systems, engineered latches and cockpit security
devices, lavatory hardware and components, hold open rods and locking devices,
specialized cockpit displays, elastomers, NiCad batteries/chargers, and
starter generators and related components.
SOURCE TransDigm Group Incorporated
CONTACT: Sean Maroney, Investor Relations, TransDigm Group Incorporated,
+1-216-706-2945, ir@transdigm.com
TransDigm Group Incorporated; Woodward Governor Company