Woodward and Wärtsilä Sign Sourcing Agreement

Woodward Governor (NASDAQ: WGOV) has signed a three-year sourcing agreement with Wärtsilä, who provides complete lifecycle power solutions focused on the marine and energy markets. The agreement encompasses supplying Woodward core fuel valve, governor, and electronic controls products and technologies for Wärtsilä's diesel and gas engines and also supports the company's extensive global service network.

"The sourcing agreement details the introduction of specific new technologies that will improve the efficiency and further enhance the competitiveness of Wärtsilä's engines," said Chad Preiss, Woodward vice president. "The agreement also expands cooperation by aligning our service strategies."

The agreement gives owners and operators of Wärtsilä engines another source for service. "With our training and support, Wärtsilä network service companies can be certified by Woodward to service, repair, overhaul, and test Woodward products that are installed on engines for which Wärtsilä owns the design or service rights," Preiss said. "This certified service facility program will benefit Wärtsilä engine owners because they can obtain all their engine services from a single source, and will benefit Woodward with the alignment of our aftermarket service programs with Wärtsilä's global service capabilities."

Woodward is the largest independent designer, manufacturer, and service provider of energy control and optimization solutions for aircraft engines, industrial engines and turbines, and power equipment packages. The company's innovative fluid energy, combustion control, electrical energy, and motion control systems help customers offer cleaner, more reliable, and cost-effective equipment. Woodward is headquartered in Fort Collins, Colorado USA and serves global markets in aerospace, power generation, transportation, and process industries.