Manufacturing  April 9, 2018

Woodward to acquire L’Orange from Rolls Royce

FORT COLLINS — Woodward Inc. (Nasdaq: WWD) is acquiring L’Orange GmbH from Rolls Royce for $859 million.

L’Orange is a global leading supplier of fuel injection systems for industrial diesel, heavy fuel oil and dual-fuel engines. Woodward will acquire it and its assets in Germany, China and the U.S. In January, Rolls Royce said it was reviewing strategic options for L’Orange. The sale to Woodward will allow L’Orange to pursue new market opportunities, as it will no longer be associated directly with one engine manufacturer. Woodward designs and manufactures components for the aerospace and industrial markets. Together, the two companies will be able to expand their customer base and new areas of opportunity.

“L’Orange is an excellent strategic and financial fit for Woodward, and this transaction exemplifies our acquisition strategy to invest in markets with solid long-term fundamentals,” Thomas Gendron, CEO of Woodward, said in a prepared statement. “The acquisition of L’Orange brings innovative technology, bolsters relationships with key customers and enhances the profitability of our Industrial segment.”

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The transaction has been cleared by the boards of directors for Rolls Royce and Woodward and is expected to close in the second quarter of 2018, pending approval from German antitrust authorities.

L’Orange is based in Stuttgart, Germany, and has approximately 1,000 employees, most of whom are in Germany but with some in the U.S. and China.

Woodward, which is based in Fort Collins and has about 7,400 employees worldwide, also announced today it recorded a $17 million charge for relocating a facility from California to Fort Collins.

 

FORT COLLINS — Woodward Inc. (Nasdaq: WWD) is acquiring L’Orange GmbH from Rolls Royce for $859 million.

L’Orange is a global leading supplier of fuel injection systems for industrial diesel, heavy fuel oil and dual-fuel engines. Woodward will acquire it and its assets in Germany, China and the U.S. In January, Rolls Royce said it was reviewing strategic options for L’Orange. The sale to Woodward will allow L’Orange to pursue new market opportunities, as it will no longer be associated directly with one engine manufacturer. Woodward designs and manufactures components for the aerospace and industrial markets. Together,…

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