Woodward's Acquisition of MotoTron to Add Engine, Vehicle and Aftertreatment Controls Expertise
October 06 2008 - 8:50AM
Marketwired
Woodward Governor Company (NASDAQ: WGOV) today announced it has
acquired all of the outstanding capital stock of MotoTron
Corporation and the intellectual property assets owned by its
parent company, Brunswick Corporation (NYSE: BC), that are used in
connection with the MotoTron business.
MotoTron specializes in software tools and processes used to
rapidly develop control systems for marine, power generation,
industrial, and other engine equipment applications. Its expertise
includes engine, transmission, vehicular, and exhaust
aftertreatment control. MotoTron's calendar year 2008 sales are
expected to be approximately $17 million.
MotoTron has been an important supplier and partner to Woodward
since 2002. Since that time, MotoTron has helped Woodward gain a
competitive edge in electronic control technologies for the
alternative-fueled bus and mobile equipment markets. Woodward also
believes that MotoTron's engineers and support staff have
demonstrated a strong aptitude for total control system design and
development, from concept to production, including software
development, mechatronic design, control module development, and
quality processes.
"This acquisition strengthens our ability to serve the
transportation and power generation markets," said Tom Gendron,
Woodward Chairman and CEO. "MotoTron's broad, multi-disciplinary
expertise around integrated mechanical and electronic control
systems will allow us to better fulfill our customers' needs for
systems that meet tough requirements for exhaust emissions,
performance and fuel efficiency."
MotoTron employs approximately 80 people worldwide, most of whom
are located in Oshkosh, Wis.; Ann Arbor, Mich.; Columbus, Ind.; and
Fort Collins, Colo. MotoTron is expected to be integrated into
Woodward's Engine Systems business segment.
About Woodward
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.
About Brunswick
Headquartered in Lake Forest, Ill., Brunswick Corporation
endeavors to instill "Genuine Ingenuity"(TM) in all its leading
consumer brands, including Mercury and Mariner outboard engines;
Mercury MerCruiser sterndrives and inboard engines; MotorGuide
trolling motors; Teignbridge propellers; Albemarle, Arvor,
Bayliner, Bermuda, Boston Whaler, Cabo Yachts, Crestliner, Cypress
Cay, Harris, Hatteras, Kayot, Lowe, Lund, Maxum, Meridian, Ornvik,
Princecraft, Quicksilver, Rayglass, Savage, Sea Ray, Sealine,
Triton, Trophy, Uttern and Valiant boats; Attwood marine parts and
accessories; Land 'N' Sea, Kellogg Marine, Diversified Marine and
Benrock parts and accessories distributors; IDS dealer management
systems; Life Fitness, Hammer Strength and ParaBody fitness
equipment; Brunswick bowling centers, equipment and consumer
products; Brunswick billiards tables; and Dynamo, Tornado and
Valley pool tables, Air Hockey and foosball tables. Visit us at
www.brunswick.com.
Information in this press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995 that involve risks and uncertainties including,
but not limited to, statements regarding the combined company's
plans, objectives, expectations and intentions, the anticipated
benefits of the acquisition of MotoTron and the expected business
opportunities that may be available to Woodward. Readers are
cautioned that these forward-looking statements are only
predictions and are subject to risks, uncertainties, and
assumptions that are difficult to predict. Factors that could cause
actual results to differ materially from the forward-looking
statements include, but are not limited to, the failure of Woodward
to successfully integrate the MotoTron business or realize
synergies and other risk factors described in Woodward's Annual
Report on Form 10-K for the year ended September 30, 2007, and the
Quarterly Reports on Form 10-Q for the quarters ended December 31,
2007, March 31, 2008, and June 30, 2008.
CONTACT: Rose Briani-Burden Business Communications 815-639-6282
Woodward Governor Company 1000 East Drake Road Fort Collins,
Colorado 80525, USA Tel: 970-482-5811 Fax: 970-498-3058
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