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FORT COLLINS, Co. – Woodward Governor Co. (WGOV) has acquired all of the outstanding capital stock of MotoTron Corp. and the intellectual property assets owned by its parent company, Brunswick Corp. (BC), that are used in connection with the MotoTron business, it reported in a statement yesterday.
Following the announcement, shares of both companies fell. Shares of Woodward’s stock fell $1.48, or nearly 5 percent, to close at $28.30. Shares of Brunswick’s stock dropped 25 cents, or 2.3 percent, to close at $10.61.
MotoTron specializes in software tools and processes used to develop control systems for marine, power generation, industrial, and other engine equipment applications, according to its new owners. Its expertise includes engine, transmission, vehicular, and exhaust aftertreatment control. MotoTron's calendar year 2008 sales are expected to be approximately $17 million, Woodward reported.
MotoTron has been an important supplier and partner to Woodward since 2002, helping it gain a competitive edge in electronic control technologies for the alternative-fueled bus and mobile equipment markets, Woodward reported. The company suggested MotoTron's engineers and support staff have a strong aptitude for total control system design and development, from concept to production, including software development, mechatronic design, control module development, and quality processes.
"This acquisition strengthens our ability to serve the transportation and power generation markets," said Tom Gendron, Woodward chairman and CEO. "MotoTron's broad, multi-disciplinary expertise around integrated mechanical and electronic control systems will allow us to better fulfill our customers' needs for systems that meet tough requirements for exhaust emissions, performance and fuel efficiency."
MotoTron employs approximately 80 people worldwide, most of whom are located in Oshkosh, Wis.; Ann Arbor, Mich.; Columbus, Ind.; and Fort Collins, Colo. MotoTron is expected to be integrated into Woodward's Engine Systems business segment.
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