Woodward Inc., Fort Collins, Colo., and Hexcel Corp., Stamford, Conn., have announced a definitive agreement to combine as part of an all-stock merger of equals under terms agreed to by the boards of directors at both companies. The resulting company, to be named Woodward Hexcel with headquarters in Fort Collins, will be an integrated systems provider for the aerospace and industrial sectors. Woodward Hexcel will employ more than 16,000 people in 14 countries on five continents. The deal is expected to close in the third quarter of 2020.
“This merger accelerates our technology investments and creates greater benefits and growth opportunities than either company could have achieved alone,” said Tom Gendron, chairman, CEO and president, Woodward.