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Curtiss-Wright Obtains Preliminary Injunction Against Velan Inc.
Velan Barred From Selling Coke Drum De-Heading Device
ROSELAND, N.J., April 18 /PRNewswire-FirstCall/ -- Curtiss-Wright Corporation
(NYSE: CW; CW.B) announced today that the United States District Court for the
Western District of Texas issued a preliminary injunction restraining Velan
Inc. from "introducing, marketing, promoting, attempting to sell, or offering
to sell" a coke drum de-heading device it had begun to offer in competition
with Curtiss-Wright's patented DeltaGuard(R) coke drum de-heading device. The
Court found that Curtiss-Wright had "made a clear showing" that the Velan
device infringed Curtiss-Wright's patent and that Curtiss-Wright was likely to
prevail at trial on the merits of its patent infringement claim against Velan.
DeltaGuard is a revolutionary, fully-automated, inherently safe coke drum
de-heading system which, in addition to dramatically improving safety, provides
significant economic advantages to refiners. This product, which was developed
by the Company's DeltaValve(R) division, a unit of the Flow Control segment of
Curtiss-Wright Corporation, has become the global standard in the industry.
"We are very pleased that the Court has enforced Curtiss-Wright's patent for
the DeltaValve coke drum de-heading technology," commented Martin R. Benante,
Chairman and CEO. "Curtiss-Wright's shareholders have funded the development
of an array of technologies that are driving organic growth across our three
businesses. We will ensure that our competitors do not infringe our
intellectual property and erode the value of our investment in emerging
technologies."
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 and flow control applications, 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/.
About DeltaValve
DeltaValve, a division of Curtiss Wright Flow Control, the Flow Control segment
of Curtiss-Wright Corporation, is a world leader in delayed coking solutions.
Headquartered in South Jordan, Utah, the company designs, engineers, and
manufactures a complete line of industrial products for the delayed coking and
flow control industries. For more information, visit
http://www.deltavalve.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, for Curtiss-Wright
Corporation
Web site: http://www.curtisswright.com/
http://www.cwfc.com/
http://www.deltavalve.com/