FORT COLLINS, CO, Jul 14, 2008 (MARKET WIRE via COMTEX News Network) -- Woodward Governor Company (NASDAQ: WGOV) announced today that they were chosen by Pratt & Whitney to be the exclusive provider of fuel nozzles to its Next Generation Product Family (NGPF).
The NGPF engine family includes the new Geared Turbofan engine for both the MRJ (Mitsubishi Regional Jet) and Bombardier CSeries single aisle aircraft families, as well as the Advanced Turbofan engine for the Cessna Citation Columbus business jet.
"Woodward is excited to be a significant contributor to the Next Generation Product Family with our advanced fuel nozzle technologies," says Marty Glass, Woodward Group Vice President, Turbine Systems. "These engines promise new levels of fuel efficiency and low emissions to an industry which is in critical need of these solutions."
The award is linked to an extension of the long-term business agreement between Woodward and Pratt & Whitney, and currently represents nearly 15 percent of Woodward's Turbine Systems aircraft OEM annual sales.
United Technologies / Pratt & Whitney also certified the Woodward Turbine Systems site as UTC Gold Supplier. This prestigious award attained by less than five percent of the engine maker's supply base, is contingent upon achieving outstanding metrics in the area of delivery, quality, lean and customer satisfaction.
"We expect a strong commitment from our key suppliers, and Woodward more than meets those expectations," says Art Soucy, Pratt & Whitney Vice President, Global Supply Chain. "Woodward has a long history of providing technologically sound solutions and outstanding operational performance as evidenced by the UTC Supplier Gold achievement."
The Geared Turbofan (GTF) engine targets double-digit reductions in fuel burn, environmental emissions, engine noise and operating costs. Cessna launched the Columbus in January 2008. Mitsubishi Heavy Industries officially launched the MRJ in March 2008. A decision on the launch of the Bombardier CSeries is expected later this year.
About Pratt & Whitney
Pratt & Whitney is a world leader in the design, manufacture and service of aircraft engines, space propulsion systems and industrial gas turbines. United Technologies Corp., based in Hartford, Conn., is a diversified company providing high technology products and services to the global aerospace and building industries.
Woodward is an independent designer, manufacturer, and service provider of energy control and optimization solutions for engines, aircraft and industrial turbines, and electrical power system equipment. The company's innovative fluid energy, combustion control, electrical energy, and motion control systems help customers offer cleaner, more reliable, and cost-effective equipment. Woodward is headquartered in Fort Collins, Colo., USA and serves global markets in aerospace, power and process industries, and transportation. 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. 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, 2007, and the Quarterly Report Form 10-Q for the quarters ended December 31, 2007 and March 31, 2008.
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