FORT COLLINS, Colo., April 15, 2026 (GLOBE NEWSWIRE) — Woodward, Inc. (NASDAQ: WWD) has announced that it has entered into an agreement to sell its pilot controls product line and associated services to Ontic Engineering and Manufacturing, in a transaction involving aerospace manufacturing assets and production operations.
The transaction covers Woodward’s pilot control manufacturing portfolio used in commercial and defense aviation applications. This includes components such as throttle quadrant assemblies, rudder pedals, and passive side sticks, which are currently produced at the company’s manufacturing facility in Niles, Illinois. Completion of the deal remains subject to customary closing conditions and regulatory approvals.
Woodward said the decision supports its broader strategy to streamline its manufacturing footprint and focus on core aerospace growth areas, particularly in advanced commercial and defense technologies. The company emphasized that it continues to invest in higher-growth manufacturing capabilities across its remaining operations.
Shawn McLevige, President of Woodward’s Aerospace Segment, said the transaction aligns with the company’s long-term plan to optimize its manufacturing portfolio and concentrate resources on next-generation aerospace production programs. He added that Ontic is well positioned to continue supporting the manufacturing legacy of the product line while serving existing customers.
As part of the agreement, Woodward and Ontic will also establish a long-term supply arrangement. Under this structure, Woodward will remain the sole supplier of certain engineered electromechanical components used in pilot control systems, ensuring continuity in key manufacturing inputs.
In addition, Woodward will provide transition services for approximately nine to twelve months after the deal closes. This is intended to support manufacturing continuity, supply stability, and uninterrupted delivery to customers during the transition period.
Ontic Engineering and Manufacturing Chief Executive Officer Gareth Hall said the agreement reinforces the company’s role in sustaining critical aerospace manufacturing programs over the long term. He noted that pilot control systems are essential safety components in aircraft operation and require consistent manufacturing quality, reliability, and lifecycle support.
Hall added that the transfer allows Woodward to focus more on advanced aviation technologies and next-generation aerospace manufacturing development, while Ontic expands its capabilities in long-term production and support of established aircraft systems.
Woodward also highlighted that this transaction is part of a broader series of manufacturing and operational adjustments aimed at strengthening its aerospace production strategy. These include investments in new facilities, relocation of certain production lines, and expansion of specialized aerospace manufacturing centers.
The company stated that these initiatives are intended to build a more focused and efficient manufacturing base that prioritizes high-growth aerospace programs and advanced production technologies.
Ontic, for its part, continues to operate as a manufacturer and sustainment provider for critical aerospace components originally developed by other companies. Its services include in-house manufacturing, engineering support, maintenance, repair, overhaul (MRO), and spare parts supply to ensure long-term availability of certified aircraft components.
The transaction is expected to close following regulatory review and satisfaction of standard closing requirements.
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