Moog Inc.

Moog Incorporated

Type	Public
Traded as	NYSE: MOG.A, MOG.B
Industry	Aerospace, Defense, Industrial Automation, and Motion Control
Founded	1951
Headquarters	East Aurora, New York
Key people	John Scanell, Chairman & CEO Don Fishback, CFO
Products	Hydraulic and Electronic Control Systems
Revenue	US$2,470MM [1]
Number of employees	10,976 [2]
Website	www.moog.com

Moog is an American worldwide designer and manufacturer of motion and fluid controls and control systems for applications in aerospace, defense, industrial and medical device markets. The company operates under five segments: Aircraft Controls, Space and Defense Controls, Industrial Controls, Components, Surveillance Camera Systems^[3] and Medical Devices.

Moog is headquartered in East Aurora, New York, a suburb of Buffalo, New York and has sales, engineering, and manufacturing facilities in twenty-six countries.^[4]

History

Bill Moog

In April 1950 Bill Moog (cousin of Robert Moog, inventor of the Moog synthesizer) applied for a patent for the electrohydraulic servo valve (later called a "Moog Valve"), a device to control hydraulic pressure for fine control of actuators. The US patent 2625136 was issued in January 1953.^[5] Bill Moog died in 1997 aged 82.

Moog projects

Moog worked on the B-2 Bomber and was responsible for the flight control actuation system. Moog also contributed to the manufacture of flight simulators. Moog's design was adapted to form the Spider-Man ride at Universal Studios adventure theme park. Moog also worked on several space contracts and designed part of the liquid rocket engine propulsion systems on the Voyager space probes and provided thruster valves that steered the spacecraft. Moog also made servoactuators for four Space Shuttles.

Moog provided a control and motion system for the Wimbledon Centre Court retracting roof. This consisted of about 150 axes of AC servo-controlled electric actuators, AC servomotors, AC servodrives and the complete motion control system, including software. It was engineered by Moog's UK facility and was hailed a success, allowing the Centre Court's only night-time tennis performance in history.

Aircraft controls

The company's largest segment is Aircraft Controls which generates revenues from military and commercial aircraft in addition to aftermarket support.

Moog has worked on:

• Lockheed F-35 Lightning II Primary and Secondary Flight Control Systems and Components
• Boeing 787 Primary and Secondary Flight Control Systems and Components
• Airbus A400M Primary and Secondary Flight Control Systems and Components
• Boeing X-45
• Northrop Grumman X-47A Pegasus
• Boeing F/A-18E/F Super Hornet
• Bell V-22 Osprey Flap, Elevator, and Swashplate Servo Actuators
• Boeing F-15 Eagle
• Lockheed F-16 Fighting Falcon
• Boeing 777
• Boeing 767
• Boeing 757
• Boeing 747
• Boeing 737
• Airbus A380
• Airbus A340
• Airbus A330
• Airbus A320

Space and defense

Moog works on satellites and space vehicles in addition to various aspects of defense such as missiles. Moog develops motion and fluid control systems technology. For satellites, Moog develops chemical and electric propulsion systems and space flight motion controls. Launch vehicles and missile use Moog's steering and propulsion controls, and the Space Station uses its couplings, valves and actuators.

Moog has supplied assistance on the following:

• United Launch Alliance
  • Atlas V components.
• Boeing SST systems and components.
  • Swing-wing components.
• Apollo mission systems and components.
• Space Shuttle systems and components.
• International Space Station systems and components.
• Deep Space 1 systems, components, and consultation.
  • Ion thruster systems, components, and consultation.
• Gravity Probe B systems and components.
  • Liquid Helium management components.
• Orbital Sciences Corporation systems and components.
• Boeing SLS systems and components.

Industrial

Moog provides a diverse range of services in this area. For the plastics and machinery market Moog designs, manufactures and integrates systems for all axes of injection and blow molding machines using both hydraulic and electric technology. In the power generation turbine market, Moog designs, manufactures and integrates control assemblies for fuel, steam and variable geometry control applications that include wind turbines. Metal forming markets use Moog designed and manufactured systems that provide control of position, velocity, force and other parameters. Heavy industry uses Moog's electrical and hydraulic servovalves for steel and aluminum mill equipment. For the material test markets, Moog supplies controls for automotive, structural and fatigue testing. The company's hydraulic and electromechanical motion simulation bases are used for the flight simulation and training markets. Other markets include material handling and testing, motorsport (including F1), carpet tufting, paper and lumber mills.

Components

In addition to the markets served by other departments, Components serves medical equipment markets. As a result of the acquisition of the Power and Data Technologies Group of the Kaydon Corporation in July 2005, Moog entered into the market of marine applications. Components has several other product lines that include the design and manufacture of electromechanical actuators, fiber optic modems, avionic instrumentation, optical switches and resolvers.

Medical devices

Medical Devices is Moog's newest segment, formed as a result of the acquisition of Curlin Medical, McKinley Medical, and Zevex International in 2006. Moog's primary products are electronic ambulatory infusion pumps and ambulatory enteral feeding pumps along with the necessary administration sets as well as disposable infusion pumps. Applications of these products include controlled delivery of fluids to the body, nutrition, post-operative pain management, regional anesthesia, chemotherapy and antibiotics. On January 23, 2009 Moog acquired the stock of Ethox International for $15.2 million in cash. Ethox is a Buffalo, NY based medical products manufacturer and service provider.

On July 1, 2013, Moog announced the sale of its Buffalo, New York operations of Ethox Medical to Dempsey Ventures for an undisclosed sum. Annual sales from this division are approximately $12 million. Ethox Buffalo employs 88 full-time employees. There is an after-tax non-cash loss of approximately $5 million, or about $0.11 per share, generated from this sale. This loss will be reflected in the Company's third quarter results for the period ended June 29, 2013 which will be reported in late July. Dempsey Ventures, based in Grand Rapids, Michigan, is a private equity firm focused on healthcare products. Its portfolio of companies in the anesthesia/respiratory space includes SunMed, Bay Medical and Ventlab. The Company also announced that it has engaged RBC Capital Markets LLC to assist with the strategic assessment of the remainder of its Medical Devices segment, including the possibility of divesting the entire segment.^[6]

References