Business
Woodward Announces Agreement to Sell Its Pilot Controls Product Line to Ontic Engineering and Manufacturing
Transaction supports the company’s strategy to focus on its core growth portfolios FORT COLLINS, Colo., April 15, 2026 (GLOBE NEWSWIRE) -- Today, Woodward,
About this update from Woodward, Inc.
[{"type":"text","content":"Transaction supports the company’s strategy to focus on its core growth portfolios\nFORT COLLINS, Colo., April 15, 2026 (GLOBE NEWSWIRE) -- Today, Woodward, Inc. (NASDAQ: WWD), a world leader in aerospace and industrial controls, announced that it has entered into an agreement to sell its pilot controls product line and associated services to Ontic Engineering and Manufacturing. The transaction includes Woodward’s portfolio of pilot controls for commercial and defense applications, such as throttle quadrant assemblies, rudder pedals, and passive side sticks that are currently manufactured at Woodward’s facility in Niles, Illinois. It is subject to customary closing conditions and regulatory approvals. “This agreement with Ontic reflects our long-term strategy to optimize our portfolio and invest in our core growth areas across aerospace commercial and defense products and services,” said Shawn McLevige, President of Woodward’s Aerospace Segment. “We believe Ontic is well-positioned to support the products and serve customers moving forward.” As part of the transaction, Woodward and Ontic will enter into a long-term supply agreement under which Woodward will remain the sole supplier of certain engineered electromechanical components for pilot controls. In addition, Woodward will provide transition services over a 9-to-12-month period following the transaction close to support continuity of customer delivery. A stronger, more focused Woodward \"This adds to other recent strategic moves we’ve announced, including closing our acquisition of Valve Research and Manufacturing, relocating servo line production from California to our premier Rock Cut facility, starting construction on our new Spartanburg facility for Airbus 350 spoiler actuation systems, and the transformation of our Loves Park site into a High-Volume Aerospace Services center. We are building a stronger, more focused Woodward as we invest in high-growth opportunities and expand in the right areas to position Woodward to create more value for our company, our customers, and our shareholders,\" said McLevige. Gareth Hall, Ontic Chief Executive Officer, said, \"We are pleased to have signed this latest agreement with Woodward. By transferring these product lines to Ontic, Woodward can focus on advancing next-generation aviation technologies, while customers benefit from ou...