Woodward finalizes joint venture with GE Aviation

FORT COLLINS – Manufacturer Woodward Inc. (Nasdaq: WWD) announced this week that the company has formally created a joint venture with GE Aviation for the production of large-engine fuel systems.

The venture, originally announced last May, results in a $250 million cash payment for Woodward from GE. The two companies will participate equally in the operating results of the joint venture and future cash flows from it.

Woodward is using the cash infusion to fund a stock repurchase program. The company has already completed $125 million in share…