Woodward and Edward King AG Form Alliance to Supply Turnkey, Integrated Fuel Systems to OEMs Worldwide
1 November 2000
Woodward and Edward King AG Form Alliance to Supply Turnkey, Integrated Fuel Systems to OEMs Worldwide
ROCKFORD, Ill.--Nov. 1, 2000--Woodward Governor Company announced today that it has formed an alliance with Edward King AG to design, develop, supply, and service integrated fuel systems for gas turbine Original Equipment Manufacturers (OEMs).
Through this alliance, OEMs will have access to a set of capabilities not previously available in the marketplace. These capabilities include fuel system architecture design and validation; fuel skid design, manufacturing, and packaging; component procurement, design, and manufacturing; and field support and commissioning.
"We are really excited about this alliance with Edward King as it will enable us to broaden our opportunities in the ever growing power generation market. Woodward's strategy is to focus resources on becoming the leading global supplier of energy control systems for aircraft and industrial turbines, engines and power equipment," said John Halbrook, Woodward Chairman and CEO. "Our goal is to produce energy control systems that support our customers' drive to produce cleaner, more cost-effective, fuel-efficient engines and turbines. Through this alliance, we will be the only supplier that can provide OEMs with an integrated fuel system from concept through field installation. As a result, OEMs can improve their time to market, manage capacity issues, and reduce total costs. We are excited about the response we have already received, which has resulted in customer commitments from Japan, Europe, and North America for more than $11M over the next two years."
"At Edward King we are proud and pleased to be in an alliance with Woodward," said H. Peter Rosenberg, Chairman of the Swiss-based group of companies. "Our partnership and cooperation with Woodward will help us expand our global presence and offer our products and services to a broader range of international clients. Our capability and know how as a supplier of innovative fluid management solutions and as a specialist in fuel skid design and manufacturing fits well into the strategy and concept of offering integrated fuel systems to the gas turbine industry."
Edward King is headquartered in Neuenhof near Zurich, Switzerland and is more than 100 years old. King specializes in supplying turnkey solutions for the handling of demanding liquids and gases and is well known for its capabilities in designing, packaging and manufacturing fuel skids for industrial applications. King has recently expanded its design and assembly capacity in the Swiss plant and has added a manufacturing capability in the Czech Republic. As a result of the alliance with Woodward and to further expand its capacity, Edward King has established a U.S. subsidiary with offices in Atlanta, Georgia and plans to open a U.S. packaging, design and assembly facility within the first half of 2001.
Woodward's Industrial Controls Business, located in Fort Collins, Colorado, is a world leader in turbine and engine controls. Headquartered in Rockford, Illinois and serving global markets from locations worldwide, Woodward is a leading producer of energy control systems and components for aircraft and industrial engines, turbines and power equipment. The company's products and services are used in the aircraft, power generation, transportation, and processing markets.
The statements in this release concerning the company's future billings, business performance, and prospects reflect current expectations and are forward-looking statements that involve risks and uncertainties. Actual results could differ materially from projections or any other forward-looking statement. Factors which 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, 1999, and Form 10-Q for the quarterly period ended June 30, 2000.