# Woodward and Hexcel announce merger of equals Woodward, Inc. and Hexcel Corporation announced a definitive agreement to combine in an all-stock merger of equals to create a premier integrated systems provider serving the aerospace and industrial sectors. The combined company will be named Woodward Hexcel. - Type: Acquisition - Announced: 2020-01-12 - Where: Fort Collins, Colorado, United States - Value: $6.43B - Jobs: 16,000 - Status: announced - Products: aerospace control systems, advanced composites - Sectors: [Aerospace Components](https://endata.com/sectors/aerospace-components.md), [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md) ## Companies - [Woodward](https://endata.com/companies/3124.md) - [Hexcel](https://endata.com/companies/15803.md) - [Woodward](https://endata.com/companies/3124.md) (acquirer) - [Hexcel](https://endata.com/companies/15803.md) (partner) - [Hexcel](https://endata.com/companies/15803.md) (target) ## Sources - [ir.woodward.com](https://ir.woodward.com/news/news-details/2020/Woodward-and-Hexcel-Announce-Merger-of-Equals-to-Create-a-Premier-Integrated-Systems-Provider-Propelling-the-Future-of-Flight-and-Energy-Efficiency/default.aspx), 2020-01-12: "Our two companies are each independently working toward addressing the sustainability and efficiency needs of our customers." - [airport-technology.com](https://www.airport-technology.com/news/woodward-and-hexcel-sign-definitive-agreement-for-all-stock-merger/), 2020-01-12: "This merger accelerates our technology investments and creates greater benefits and growth opportunities than either company could have achieved alone." - [reuters.com](https://www.reuters.com/article/us-hexcel-m-a-woodward-idUSKBN1ZB0NY/), 2020-01-12: "Hexcel Corp and Woodward Inc said on Sunday they would combine in an all-stock merger of equals to create an integrated systems provider for the aerospace and industrial sectors." - [investing.com](https://www.investing.com/analysis/hexcel-and-woodward-announce-merger-of-equals-agreement-200498357), 2020-01-13: "Hexcel Corporation and Woodward, Inc. recently entered into an all-stock merger of equals agreement for providing premier, technology-rich integrated systems and services to the aerospace and industrial sectors." - [news.bloomberglaw.com](https://news.bloomberglaw.com/mergers-and-acquisitions/woodward-to-combine-with-hexcel-in-all-stock-transaction), 2020-01-13: "The transaction, which the suppliers to Boeing Co. and Airbus SE are billing as a merger of equals, will create a company named Woodward Hexcel with annual revenue of more than $5 billion." - [canadianmanufacturing.com](https://www.canadianmanufacturing.com/manufacturing/aerospace-defence-suppliers-woodward-hexcel-joining-forces-244977/), 2020-01-13: "The future of flight and energy efficiency will be defined by next-generation platforms delivering lower cost of ownership, reduced emissions, and enhanced safety." - [thestandard.com.hk](https://www.thestandard.com.hk/finance/article/140038/Hexcel-jumps-on-Woodward-deal), 2020-01-14: "Traders bid up shares in Hexcel 9.6 percent on Monday on Wall Street after the company said it is being bought by rival Woodward..." - [govconwire.com](https://www.govconwire.com/articles/hexcel-woodward-aim-to-form-aerospace-defense-tech-company-via-merger-deal), 2020-01-14: "Woodward, a supplier of aircraft and industrial parts, has agreed to merge with composites manufacturing company Hexcel in an all-stock transaction that would create a $6.4B integrated systems provider." - [fool.com](https://www.fool.com/investing/2020/01/15/heres-why-these-two-major-boeing-suppliers-are-tea.aspx), 2020-01-15: "The companies said they expect the new Woodward Hexcel to generate about $1 billion in free cash flow in 2021." - [sdquebec.ca](https://sdquebec.ca/fr/nouvelle/the-new-trend-in-acquisitions-mergers-of-equal-but-different), 2020-01-21: "On Jan. 12, aircraft motion-control specialist Woodward and composites leader Hexcel proposed stock merger to create one of the largest independent A&D suppliers" - [labusinessjournal.com](https://labusinessjournal.com/manufacturing/aerospace/money-issue-2020-manufacturing-aerospace/), 2020-01-24: "Woodward Inc. ... said it plans to merge with Stamford, Conn.-based Hexcel Corp." - [orientaviation.com](http://www.orientaviation.com/articles/4826), 2020-02-01: "Composites technology company, Hexcel, and aircraft and industrial parts manufacturer, Woodward Inc., have merged into a 55/45 integrated systems provider for the aerospace and industrial sectors to be named Woodward Hexcel." - [textileworld.com](https://www.textileworld.com/textile-world/nonwovens-technical-textiles/2020/02/woodward-hexcel-to-become-woodward-hexcel/), 2020-02-17: "This merger accelerates our technology investments and creates greater benefits and growth opportunities than either company could have achieved alone." - [fabbaloo.com](https://www.fabbaloo.com/2020/02/two-major-boeing-suppliers-working-together-using-3d-printing), 2020-02-19: "Two of Boeing’s major suppliers are merging together in a US$6.4B deal consisting of the two publicly traded companies, Woodward and Hexcel" - [focusfinance.org](https://www.focusfinance.org/post/woodward-and-hexcel-s-6-4-billion-merger), 2020-03-04: "Woodward (WWD) will combine its operations with Hexcel (HXL) in an all-stock transaction that gives it a controlling stake in the merged entity, creating one of the world's biggest aerospace and defense suppliers." - [mergersight.com](https://www.mergersight.com/post/woodward-and-hexcel-s-6-4-billion-merger), 2020-03-04: "Woodward (WWD) will combine its operations with Hexcel (HXL) in an all-stock transaction that gives it a controlling stake in the merged entity, creating one of the world's biggest aerospace and defense suppliers." - [compositesworld.com](https://www.compositesworld.com/news/hexcel-to-merge-with-aerospaceindustrial-equipment-oem-woodward), 2020-04-06: "Hexcel, a major supplier of carbon fiber as well as intermediate composite materials, is joining forces with aerospace and industrial equipment manufacturer Woodward to create Woodward Hexcel" --- Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.