Woodward selling recently acquired product line

FORT COLLINS – Woodward Governor Co. (NASDAQ: WGOV) plans to sell the fuel and pneumatics product line it picked up in a recent acquisition for $48 million.

TransDigm Inc. will take the line from the Woodward HRT business, formed by the April 3 acquisition of HR Textron Inc.

“This sale is consistent with the strategic goals of both Woodward and TransDigm. It allows Woodward to focus on the areas of our new airframe business that are core to our future,´ said Woodward Chairman and CEO Thomas Gendron in a prepared statement.

Woodward plans to use the proceeds to reduce its outstanding debt and…