Curtiss-Wright Awarded $40 M for Naval Defense Platforms

Curtiss-Wright Corporation (NYSE:CW) announced today that it has been awarded contracts valued in excess of $40 million to provide valves for the U.S. Navy's Virginia-Class submarines, as well as an assortment of spare components for nuclear powered ships. The awards from Bechtel Plant Machinery, Inc. (BPMI) and General Dynamics Electric Boat are the next releases under previously awarded contracts for Virginia-Class submarines. The BPMI award was supplemented with spare components as an addition to the base contract. The Curtiss-Wright Flow Control facility in East Farmingdale, NY will perform the work under this contract. Deliveries of these components are scheduled for 2013 through 2017.

"We are very pleased to have been awarded this additional work, which continues Curtiss-Wright's ongoing support for U.S. naval defense programs," said Martin R. Benante, Chairman and CEO of Curtiss-Wright Corporation. "The Virginia-Class submarine program is a critical component of our national defense and these contracts provide important long-lead nuclear components that enable the continuation of submarine construction. Since the inception of nuclear powered ships, Curtiss-Wright's commitment to providing the most advanced and reliable technologies has ensured our continued participation in this defense program."

For over 50 years, Curtiss-Wright has supplied technologically advanced products and services to the U.S. Navy, particularly for nuclear propulsion systems.  The company's innovative, high-performance products can be found aboard nuclear submarines and aircraft carriers commissioned by the U.S. Navy, ensuring safe, reliable operations. In addition, Curtiss-Wright technologies, such as power-dense motors and enhanced valves, enable more efficient operations, reduce manpower and overall cost, and increase safety.

Source: Curtiss-Wright Corporation (NYSE: CW)
Date: Apr 2, 2012