Woodward buys GE component

Investor's Business Daily

The engine components maker paid $200 mil in cash for General Electric's (GE) thrust reverser actuation systems business. It also signed a deal to supply the components back to GE Aviation Systems. The components are used on aircraft such as Boeing's (BA) 737, 747 and 777 jets, as well as European rival Airbus' A320. Woodward (WWD) forecasts fiscal '13 sales of about $150 mil for the business. Woodward shares fell 1.4% to 37.11. GE shares fell 1.2% to 20.44.

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