Woodward inks deal to supply Boeing 777X component

FORT COLLINS – Woodward Inc. (Nasdaq: WWD) announced this week that the company has inked a deal with Boeing Commercial Airplanes to supply the thrust reverser actuation system for the new 777X plane.

Terms of the deal were not disclosed.

The Boeing 777X, slated to go into service in 2020, is an update of the current 777 that includes a new GE-built engine designed to achieve greater fuel efficiency.

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The TRAS that Fort Collins-based Woodward will provide provides aircraft deceleration on landing. Woodward has supplied similar systems for other Boeing planes, including the current 777, the 747-8, the Next-Generation 737 and 737 MAX.

Woodward director of investor relations and treasury Don Guzzardo said the TRAS for the 777X would be in development between now and when the plane goes into service. He declined to say whether the deal would mean new jobs for Woodward, which has sites in Fort Collins, Loveland and Windsor.

“It’s good for Woodward and our growth,” Guzzardo said. “You want to be in on these future programs as they’re released and developed.”

Woodward has about 7,000 employees worldwide, including 1,500 in Colorado.