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Curtiss-Wright Completes Acquisition of Primagraphics
Acquisition Strengthens Embedded Systems Position in Worldwide Naval Command
and Control Markets
ROSELAND, N.J., June 1 /PRNewswire-FirstCall/ -- Curtiss-Wright Corporation
(NYSE: CW; CW.B) today announced that it has completed the previously announced
acquisition of Primagraphics Holdings Limited ("Primagraphics") for
approximately $21 million in cash. Primagraphics will operate as a business
unit of the Motion Control segment of Curtiss-Wright, based in Gastonia, N.C.
Primagraphics is a market leader in the development of radar processing and
graphic display systems used throughout the world for military and civil
applications, such as ship and airborne command and control consoles, vessel
tracking, air traffic control and air defense systems.
With sales of approximately $12.5 million in 2003, Primagraphics' products
include graphics and imaging technologies, video and sensor processing
hardware, and software that can be readily engineered to provide vital
components for a wide variety of systems.
Primagraphics employs approximately 50 people and is headquartered near
Cambridge in the United Kingdom, with additional facilities in Charlottesville,
VA, and a worldwide network of dealers and distributors.
About Curtiss-Wright Corporation
Curtiss-Wright Corporation is a diversified company headquartered in Roseland,
New Jersey. The Company designs, manufactures and overhauls products for
motion control and flow control applications, and provides metal treatment
services. The firm employs approximately 4,900 people worldwide. The company
will celebrate its 75th anniversary in August 2004. More information on
Curtiss-Wright can be found on the Internet at http://www.curtisswright.com/.
About Curtiss-Wright Controls, Inc.
Headquartered in Gastonia, North Carolina, Curtiss-Wright Controls, Inc. is the
Motion Control segment of Curtiss-Wright Corporation. With manufacturing
facilities around the world, Curtiss-Wright Controls is a leading
technology-based organization providing niche motion control products, embedded
computers, subsystems and services internationally. For more information,
visit http://www.cwcontrols.com/.
Forward-looking statements in this release are made pursuant to the Safe Harbor
provisions of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements are subject to certain risks and uncertainties that
could cause actual results to differ materially from those expressed or
implied. Readers are cautioned not to place undue reliance on these forward-
looking statements, which speak only as of the date hereof. Such risks and
uncertainties include, but are not limited to: a reduction in anticipated
orders; an economic downturn; changes in competitive marketplace and/or
customer requirements; a change in government spending; an inability to perform
customer contracts at anticipated cost levels; and other factors that generally
affect the business of aerospace, defense contracting, marine, electronic and
industrial companies. Please refer to the Company's current SEC filings under
the Securities and Exchange Act of 1934, as amended, for further information.
DATASOURCE: Curtiss-Wright Corporation
CONTACT: Alexandra Magnuson of Curtiss-Wright Corporation,
+1-973-597-4734
Web site: http://www.curtisswright.com/
http://www.cwcontrols.com/