Woodward: no staffing changes in Colorado until merger closes

FORT COLLINS — Woodward Inc. (Nasdaq: WWD) and Hexcel Inc. (NYSE: HXL) will spend the next several months working toward closing their $6 billion merger by the end of the third quarter this year.

Until then, Woodward says, it’ll be business as usual in Northern Colorado.

Company spokeswoman Tracy Gohari told BizWest there are no changes to employee counts in its Fort Collins headquarters and its four plants and research labs in Fort Collins, Loveland and Windsor planned before the merger closes. The companies expect to close the merger by the end of September, the last month in the third quarter.

Any decisions to take executives or jobs in or out of the region will come after the companies close the merger and become Woodward Hexcel, which will be based in Fort Collins.

“That will happen during the integration phase, and we won’t be able to do that until we close,” she said.

Woodward employs 1,712 people across its five plants in Northern Colorado, while Hexcel employs 100 people in its Windsor plant.

Woodward and the Stamford, Connecticut-based Hexcel announced an all-stock merger Sunday afternoon, a deal that would create a company valued at $5.3 billion in annual combined revenue and $1 billion in free cash flow. Woodward shareholders would have 55 percent of the new company, while Hexcel stockholders would own the other 45 percent.

FORT COLLINS — Woodward Inc. (Nasdaq: WWD) and Hexcel Inc. (NYSE: HXL) will spend the next several months working toward closing their $6 billion merger by the end of the third quarter this year.

Until then, Woodward says, it’ll be business as usual in Northern Colorado.

Company spokeswoman Tracy Gohari told BizWest there are no changes to employee counts in its Fort Collins headquarters and its four plants and research labs in Fort Collins, Loveland and Windsor planned before the merger closes. The companies expect to close the merger by the end of September, the last month in the third quarter.

Any decisions to take executives or jobs in or out of the region will come after the companies close the merger and become Woodward Hexcel, which will be based in Fort Collins.

“That will happen during the integration phase, and we won’t be able to do that until we close,” she said.

Woodward employs 1,712 people across its five plants in Northern Colorado, while Hexcel employs 100 people in its Windsor plant.

Woodward and the Stamford, Connecticut-based Hexcel announced an all-stock merger Sunday afternoon, a deal that would create a company valued at $5.3 billion in annual combined revenue and $1 billion in free cash flow. Woodward shareholders would have 55 percent of the new company, while Hexcel stockholders would own the other 45 percent.