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Curtiss-Wright Awarded $11.5 Million US Navy Contract
Program For Design and Development of Advanced Arresting Gear System
ROSELAND, N.J., March 3 /PRNewswire-FirstCall/ -- Curtiss-Wright Corporation
(NYSE: CW; CW.B) has been selected as part of the team led by General Atomics
to participate in the System Design and Development (SDD) phase of the Advanced
Arresting Gear (AAG) Program for the US Navy. Curtiss-Wright has been awarded
$11.5 million as part of a cost-plus fee contract which is expected to be
completed in October 2008. The Naval Air Warfare Center Aircraft Division
(NAVAIR), Lakehurst, NJ, is the contracting agent.
The AAG system will replace the current hydraulic arresting system used on
aircraft carriers to capture tailhook-equipped aircraft landing on the deck.
The new system design will provide significant advances for simplifying
operation, improved reliability, and ease of maintenance, as well as increased
flexibility to recover a wider array of aircraft. The system will be retrofit
onto existing CVN 68 class carriers and forward-fit on to CVN 21 and future
class carriers.
The project team, which includes General Atomics as prime contractor,
Curtiss-Wright, ESCO, FMI, JJMA and EDO corporations, will design, develop,
manufacture, install, and demonstrate a production-representative AAG unit at
NAVAIR-Lakehurst. Curtiss-Wright Electro-Mechanical Corporation (EMD), a unit
of Curtiss-Wright's Flow Control segment, will perform the work at its Cheswick
and Mt. Pleasant, PA, facilities.
Martin R. Benante, Chairman and CEO, commented, "The reliability and increased
operational flexibility of the Advanced Arresting Gear System is of paramount
importance to the basic mission of our carrier fleet and we are honored to be a
valued team member on this critical US Navy program."
About Curtiss-Wright
Curtiss-Wright Corporation is a diversified company headquartered in Roseland,
New Jersey. The Company designs, manufactures and overhauls products for
motion control, flow control, and provides a variety of metal treatment
services. The firm employs approximately 5,600 people worldwide. More
information on Curtiss-Wright can be found on the Internet at
http://www.curtisswright.com/.
About Curtiss-Wright Flow Control
Headquartered in Farmingdale, New York, Curtiss-Wright Flow Control ("CWFC") is
the flow control segment of Curtiss-Wright Corporation. Founded in 1950, CWFC
specializes in the design and manufacture of highly engineered valves, pumps,
advanced electrical machines, electronics and related products for commercial
and defense industries. Today, CWFC's sophisticated products are installed on
every nuclear submarine and aircraft carrier commissioned by the United States
Navy, and an integral part of worldwide commercial nuclear power plants, oil
and gas processing facilities, automotive and general industrial markets. For
more information, visit http://www.cwfc.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, electronics 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 M. Deignan, +1-973-597-4734
Web site: http://www.curtisswright.com/
http://www.cwfc.com/