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About Mpc Products Corporation

Woodward is a controlling presence in many a machine. The Fort Collins, Colorado-based company manufactures and services providers of control solutions for the aerospace and industrial markets such as fuel, air, combustion and motion control fluids, gasses, and electricity flowing through aircraft, vehicles, turbine and piston engines, and electrical power equipment. Its products — valves, nozzles, actuators, sensors, and more — go to OEMs and prime contractors around the world for use in commercial and military aerospace, power generation and distribution, and transportation applications. Customers include GE and Boeing. Woodward makes its products primarily in the US, which accounts for more than 55% of its sales.

Operations

Woodward operates through two segments, aerospace (about two-thirds of sales) and industrial (about a third of sales).

The aerospace segment designs, manufactures and services systems and products for the management of fuel, air, and combustion and motion control. These products includes fuel pumps, metering units, actuators, air valves, specialty valves, fuel nozzles, and thrust reverser actuation systems for turbine engines and nacelles, as well as flight deck controls, actuators, servocontrols, motors and sensors for aircraft.

The industrial segment designs, produces and services systems and products for the management of fuel, air, fluids, gases, motion, combustion and electricity. These products include actuators, valves, pumps, fuel injection systems, solenoids, ignition systems, speed controls, electronics and software, power converters, sensors and other devices that measure, communicate and protect electrical distribution systems.

Geographic Reach

Headquartered in Colorado, Woodward has facilities used for sales, services activities, and assembly in Brazil, Bulgaria, China, India, Japan, the Netherlands, the Republic of Korea, Saudi Arabia, Germany, the UK, and the US.

The sales split between US and foreign sales is about 55%-45%. Germany, the only other single market Woodward highlights, accounts for about 10% of sales. Both Europe and Asia accounts for about 15% of total revenue.

Sales and Marketing

Woodward relies on a limited number of customers for its sales with its five biggest accounting for more than 45% of revenue. GE and Boeing have been Woodward's biggest revenue provider with about 15% each of total sales. Direct and indirect sales to the US government account for about a quarter of revenue through third party manufacturer utilizing Woodward parts and subassemblies. The Company also sells products through an independent network of distributors and, in some cases, directly to end users.

Financial Performance

Woodward Inc.'s revenue has trended higher over the past five years. Net income has been increased by 43% from 2015 - 2019.

In 2019 (ended September), sales rose about 25% to $2.9 billion from 2018. Revenue increased across both segments.

Woodward's profit grew to about $259.6 million in 2019, compared to $180.4 million the year before. The increase was due to higher revenue.

The company held about $99.1 million in cash and equivalents in 2019 compared to $83.6 million the year before. Cash provided by operations was $390.6 in 2019 while investing activities used about $102.5 million and financing activities provided $265.6 million.

Strategy

Woodward believes that one of the keys to have a sustainable growth is to have a compelling strategy.

The company aims to be the recognized market leader for propulsion and combustion control solutions for every type of turbine powered aircraft; fluid and motion control solutions for critical aerospace and defense applications; application and control solutions for any machine that produces electricity utilizing conventional or renewable energy sources; and fluid, motion, and combustion control solutions for complex oil and gas, industrial, and transportation applications.

The Woodward partners with industry leaders such as Boeing as part of their strategy for sustainable growth. The goal of the company is to be indispensable to the customers through close collaboration, creative systems solutions, innovative state of the art technology and world-class operational excellence.

Company Background

As a nod toward the direction the company is going, in 2011 Woodward dropped "Governor" from its name. Although the company's energy segment still makes governors (a device used to regulate a machine's speed), the new, more general name better reflects the dramatic expansion of Woodward's product menu. Founder Amos Woodward developed a governor to control water wheels in 1870.

Mpc Products Corporation

6300 W Howard St
Niles, IL 60714-3406
Phone: 1 (847) 673-8300

Firm Stats

Employer Type: Privately Owned
Product Manager: John Huish
Marketing Sales: Darryl Stachniak
Director: Keith Stoddard
Employees (This Location): 512
Employees (All Locations): 963

Major Office Locations

Niles, IL

Other Locations

Niles, IL