Woodward Achieves Natural Gas Engine Control Systems Milestone
FORT COLLINS, CO--(Marketwire - Feb 12, 2013) - Woodward, Inc. (NASDAQ: WWD) announced today the shipment of its 100,000th OH natural gas engine control system. The Woodward system reduces fuel costs and exhaust emissions in the growing area of industrial engines fueled by CNG (compressed natural gas) or LNG (liquefied natural gas) in heavy-duty transport applications.
"Our technology helps enhance the global quality of life by delivering solutions that support the use of clean, natural gas engines," said Chad Preiss, President, Engine Systems. "We thank our Woodward members and partners who helped us reach this significant milestone."
Woodward, building on two decades of market success and technology development, is the market leader in OH natural gas engine control systems. These systems are used by over twelve gas engine original equipment manufacturers in eight countries, including China, Korea, and the United States.
Sales of Woodward's portfolio of natural gas engine control systems have increased substantially in recent years as natural gas has become a more desirable fuel source. Air pollution concerns and the increasing supply of low-cost natural gas are driving strong demand for our proven systems technologies.
About Woodward, Inc.
Woodward is an independent designer, manufacturer, and service provider of control solutions for the aerospace and energy markets. Our aerospace systems and components optimize the performance of fixed wing and rotorcraft platforms in commercial, business and military aircraft, ground vehicles and other equipment. Our energy-related systems and components enhance the performance of industrial gas and steam turbines, reciprocating engines, compressors, wind turbines, electrical grids and other energy-related industrial equipment. The company's innovative fluid energy, combustion control, electrical energy, and motion control systems help customers offer cleaner, more reliable and more efficient equipment. Our customers include leading original equipment manufacturers and end users of their products. Woodward is headquartered in Fort Collins, Colorado, USA. Visit our website at www.woodward.com.
The statements in this release concerning the company's future sales, earnings, business performance, prospects, and the economy in general reflect current expectations and are forward-looking statements that involve risks and uncertainties. Actual results could differ materially from projections or any other forward-looking statement and we have no obligation to update our forward-looking statements. Factors that could affect performance and could cause actual results to differ materially from projections and forward-looking statements are described in Woodward's Annual Report and Form 10-K for the year ended September 30, 2012 and any subsequently filed Quarterly Report on Form 10-Q.
