Woodward To Buy Cummins Unit
Woodward Governor Co. said it has signed a definitive agreement to purchase all Schaltanlagen-Elektronik-Geräte GmbH & Co. KG (SEG) stock from Cummins, Inc. and Schmitz-Beteiligungs GmbH (SBG), headquartered in
“We continue to actively work our energy control and optimization solutions strategy through organic development and acquisitions to enhance our systems offering. SEG is an excellent fit with our strategy,” said Thomas A. Gendron, Woodward President and CEO. “SEG’s protective relays are used in the electrical power generation and distribution markets, and complement Woodward power generation system solutions. The alternative, renewable energy markets continue to be areas of interest to Woodward. SEG’s high-power inverters are an integral part of modern wind turbines,” said Gendron.