Woodward Breaks Ground on $200 Million Redevelopment Project

Site Located in Old Town Fort Collins

Fort Collins, Colo., May 15, 2013 – Woodward, Inc. (NASDAQ: WWD) announced today the company broke ground on a new campus for its corporate headquarters and Industrial Turbine Systems business at the former Link-N-Greens golf course in Old Town Fort Collins.

The groundbreaking at the 101-acre site concluded a nine-month process where Woodward reviewed multiple options among several states. Agreement on a project plan and support package was reached among Woodward, the State of Colorado, the City of Fort Collins and the Fort Collins Downtown Development Authority in March, and the site was purchased on April 30. 

Chairman and Chief Executive Officer Thomas Gendron said, “We have had very good success in winning new business and recognized the need for new capacity. We know Woodward is in a competitive community with a skilled workforce that has good infrastructure and a good quality of life that allows us to attract and retain excellent workers.”

Governor John Hickenlooper stated, "Woodward's headquarter expansion in Fort Collins is a legacy project for this community. The new campus will further revitalize a growing downtown area and provide Woodward access to one of the country's most talented workforces, in one of the state's most beautiful areas, as they grow their operations."

The City of Fort Collins anticipates the facility will become a national model for employment center infill in a downtown area. Woodward is donating 31 acres of riverfront property to the city for restoration of the property to its natural state along with improvements to trail and nature sites.

The site was originally settled in the late 1850s by John Coy, whose descendants attended the event. The site is one of the original settlements in what is now Fort Collins. In 1858, Mr. Coy and his family traveled by covered wagon from Cuba, MO. The barn, which was built in 1869, will be preserved.

About Woodward, Inc.
Woodward is an independent designer, manufacturer, and service provider of control solutions for the aerospace and energy markets. Our aerospace systems and components optimize the performance of fixed wing and rotorcraft platforms in commercial, business and military aircraft, ground vehicles and other equipment. Our energy-related systems and components enhance the performance of industrial gas and steam turbines, reciprocating engines, compressors, wind turbines, electrical grids and other energy-related industrial equipment. The company's innovative fluid energy, combustion control, electrical energy, and motion control systems help customers offer cleaner, more reliable and more efficient equipment. Our customers include leading original equipment manufacturers and end users of their products. Woodward is headquartered in Fort Collins, Colorado, USA. Visit our website at www.woodward.com, and connect with us at www.facebook.com/woodwardinc

The statements in this release concerning the company's future sales, earnings, business performance, prospects, and the economy in general 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 and we have no obligation to update our forward-looking statements. Factors that 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, 2012 and any subsequently filed Quarterly Report on Form 10-Q.
 

CONTACT: Don Guzzardo
Director, Investor Relations and Treasury
(970)498-3580 | don.guzzardo@woodward.com