Woodward Selected by Boeing for 777X Actuation System

FORT COLLINS, Colo., Dec. 10, 2014 (GLOBE NEWSWIRE) -- Woodward, Inc. (Nasdaq:WWD) today announced that it signed an agreement with Boeing Commercial Airplanes to supply the TRAS (Thrust Reverser Actuation System) for its new 777X airplane.

The Woodward TRAS provides safety-critical aircraft deceleration on landing, and will leverage Woodward's highly-reliable, proven in-service motion and propulsion control heritage. Other Boeing Commercial programs featuring Woodward TRAS systems include the 747-8, 777, Next-Generation 737, and 737 MAX.

"We are pleased to have Woodward as part of the 777X team," said Bob Noble, Vice President, Partnering for Success, Boeing Commercial Airplanes. "Their performance on current programs and their support of customer affordability requirements underscores the value they will provide Boeing for the future."

"Woodward is pleased to be chosen to supply the 777X Thrust Reverser Actuation System to Boeing Commercial Airplanes," said Marty Glass, President, Airframe Systems, Woodward. "The 777X program is being developed to meet market and customer needs for more efficient airline passenger travel, and we are proud to contribute to that performance."

Woodward's Thrust Reverser Actuation Systems deliver market-leading reliability and performance, which will greatly benefit Boeing and 777X aircraft operators for years to come.

About Woodward, Inc.

Woodward is an independent designer, manufacturer, and service provider of control system solutions and components for the aerospace and energy markets. The company's innovative fluid, combustion, electrical, 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 a global company headquartered in Fort Collins, Colorado, USA. Visit our website at www.woodward.com, and connect with us at www.facebook.com/woodwardinc.

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, 2014.

CONTACT: Don Guzzardo Director, Investor Relations and Treasury 970-498-3580

Source:Woodward, Inc.