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Woodward Announces Product Awards on New Gulfstream G500 and G600 Business Jets

FORT COLLINS, Colo., Nov. 16, 2015 (GLOBE NEWSWIRE) -- Woodward, Inc. (NASDAQ:WWD) today announced that it will supply a suite of components for the Gulfstream G500 and G600 business jet programs now in development. This includes flight deck controls (throttle quadrant assembly, fuel switch module and pedestal), secondary flight controls (speedbrake-, trim- and flap handles) and eMED actuators. Woodward is responsible for design, certification, and production.

"We are very pleased to extend our strong relationship with Gulfstream, supplying flight deck and secondary flight controls, in support of the G500 and G600 aircraft," said Marty Glass, President, Airframe Systems, Woodward, Inc.

The G500 is slated to enter service in 2018, with the G600 following in 2019. The G500 has performed over 100 hours of flight test to date.

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.

About Gulfstream

Gulfstream Aerospace Corporation designs, develops, manufactures, markets, services and supports the world's most technologically advanced business-jet aircraft. Gulfstream has produced more than 2,200 aircraft for customers around the world since 1958. To meet the diverse transportation needs of the future, Gulfstream offers a comprehensive fleet of aircraft, comprising the Gulfstream G150TM, the Gulfstream G280TM, the Gulfstream G450TM, the Gulfstream G550TM, the Gulfstream G500TM, the Gulfstream G600TM, the Gulfstream G650TM and the Gulfstream G650ERTM. Gulfstream also offers aircraft ownership services via Gulfstream Pre-Owned Aircraft SalesTM. The company employs more than 15,000 people at 12 major locations. We invite you to visit our website for more information and photos at www.gulfstreamnews.com. More information about General Dynamics is available at www.generaldynamics.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, including but not limited to Woodward's expectations that it will supply a suite of components for the Gulfstream G500 and G600 business jet programs now in development, Woodward's extension of its strong relationship with Gulfstream, and the anticipated entry into service of the G500 and the G600. 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, 2015 and any subsequently filed Quarterly Report on Form 10-Q.

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

Source:Woodward, Inc.