Woodward inks engine deal with GE Aviation

FORT COLLINS – Woodward Inc. (Nasdaq:WWD) has signed an agreement with
General Electric Co. (NYSE:GE), through its GE Aviation business unit,
to develop and supply the fuel system, air management and actuation
hardware for CFM International’s LEAP-X engine program.

CFM is a joint venture between GE and the French aviation engine maker
Snecma. The LEAP-X is the next-generation, fuel-efficient turbofan
engine from CFM, according to a release by Woodward. The terms of the
contract were not disclosed.

Airbus, Comac, and, pending final approval of its board of directors,
Boeing will use the LEAP-X engine in some of their planes.

“We have worked with GE for a number of years on specific enabling
technologies that will help the LEAP-X engine meet market and customer
demands for increased fuel efficiency, lower emissions and reduced
noise, said Tom Gendron, chairman and CEO of Woodward.

In midday trading, shares of Woodward were down 73 cents at $26.92. Shares of GE were also down, 55 cents to $15.41.