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HR Textron sold to Woodward Governor

April 6, 2009 at 2:48 PM   |   Comments

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.

© 2009 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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