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Textron Completes Sale Of Unit To Woodward

Stock quotes in this article: TXT , WGOV  

PROVIDENCE, R.I. (AP) — Textron Inc., which makes Cessna jets, Bell helicopters and turf maintenance equipment, said Friday it completed the sale of one of its units to Woodward Governor Co.

Fort Collins, Colo.-based Woodward paid $365 million and other related fees, which was financed with available cash, borrowings of $105 million under a revolving credit agreement and new term debt financing.

Woodward expects the deal to boost its growth in motion-control applications in the aerospace and defense markets. ...

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