HR Textron sold to Woodward Governor

April 6, 2009 at 2:48 PM

PROVIDENCE, R.I., April 6 (UPI) -- U.S. defense contractor Textron Inc. has completed the sale of its mission-critical actuation-systems developer business unit to Woodward Governor Co.

Textron completed the sale of its HR Textron unit to commercial and military-aircraft energy-control and optimization-solutions developer Woodward Governor for an undisclosed amount of money.

HR Textron supplies actuation systems and products, including hydraulic and electric primary flight-control technologies, for the F-35 Joint Strike Fighter. The business unit also supports guided weapons, armored vehicles and turbine engines with its technologies.

According to Textron officials, the "deal will result in approximately $265 million in after-tax cash proceeds," according to a news release.

Like Us on Facebook for more stories from UPI.com  
Latest Headlines
Top Stories
Kraft-Heinz merger forms world's fifth-largest food-beverage company
BBC to lay off 1,000 people to make up for $234M in lost revenue
Aetna to acquire Humana for $37 billion in cash, stocks
New Zealand military receives medium heavy military trucks
U.S. proposes tighter pipeline spill rules