Woodward Governor (WGOV) Agrees to Acquire MPC Products for $383M
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Woodward Governor Company (NASDAQ: WGOV) today announced Woodward and MPC Products Corporation have entered into a definitive stock purchase agreement under which Woodward would acquire MPC in a transaction valued at approximately $383 million.
MPC is an industry leader in the manufacture of high-performance electromechanical motion control systems primarily for aerospace applications. MPC's net sales were $195 million for its fiscal year ended December 31, 2007. The company would become a wholly-owned subsidiary of Woodward. The addition of MPC is expected to be accretive to Woodward's results in fiscal 2009.
Woodward Governor Company engages in the design and manufacture of energy control and optimization solutions for reciprocating engine, aircraft and industrial turbines, and electrical power system equipment used in various industries worldwide.
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