News Details
CURTISS-WRIGHT'S INTEGRATED ELECTRONICS SUBSYSTEMS CHOSEN BY RAYTHEON
August 29, 2002
Korean Army's Mobile Anti-Aircraft System Contract Worth $4.6 Million
LYNDHURST, N.J., Aug 29, 2002 /PRNewswire-FirstCall via COMTEX/ Curtiss-Wright Corporation (NYSE: CW; CW.B), through VISTA Controls, a division of its Motion Control business segment, has been awarded a $4.6 million dollar production contract by the Raytheon Company. The contract covers the control electronics unit in the Korean Electro-Optical Tracking System (KEOTS) for the Republic of Korea Army's "Flying Tiger" -- a new self-propelled anti-aircraft gun vehicle.
KEOTS is an advanced ground-to-air passive fire control system that consists of a second-generation, forward-looking infrared radar sensor with a high-performance TV sensor, both of which are sighted to a long-range, high repetition rate laser range finder. Designed to protect forces from low- flying airborne vehicles, KEOTS provides the Flying Tiger with a capability to acquire, track and engage aerial targets.
Raytheon, a global technology leader in defense, government and commercial electronics, business and special-mission aircraft, is providing the integrated KEOTS subsystem.
Curtiss-Wright designed the System Controller Unit (SCU) for KEOTS. The SCU receives visual and infrared target information, analyzes the data, and provides tracking information to the firing system.
First prototype deliveries of VISTA Controls' KEOTS SCU to Raytheon are expected in March 2003, with full production following in May.
Martin Benante, Chairman and CEO of Curtiss-Wright, stated, "VISTA Controls' electronic design capabilities have led to numerous opportunities within Raytheon. This contract, along with others already in place, makes Raytheon one of our most valued customers. The acquisition of VISTA Controls allows us to build relationships with industry leaders which is one of the objectives of our acquisition program."
VISTA Controls, a Curtiss-Wright company, designs and develops a variety of electronic products. Applications for the company's products include mission processor and control subsystems for ground vehicles, surface and subsurface naval platforms, tactical and strategic aircraft, and earth-orbit space vehicles and platforms.
ABOUT CURTISS-WRIGHT
Curtiss-Wright Corporation is a diversified company headquartered in Lyndhurst, New Jersey. The Company designs, manufactures and overhauls products for motion control and flow control applications and additionally is a provider of metal treatment services. The firm employs approximately 3,250 people. More information on Curtiss-Wright can be found on the Internet at http://curtisswright2014.q4web.com
Forward-looking statements in this release related to expectations of continued high revenues related to new commercial aircraft and continued sales and income growth, and 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 the need for additional machinery and equipment and/or in the cost for the expansion of the Corporation's operations; changes in the competitive marketplace and/or customer requirements; changes to the political environment; an inability to perform customer contracts at anticipated cost levels; and other factors that generally affect the business of defense companies. Please refer to the Company's SEC filings under the Securities and Exchange Act of 1934, as amended, for further information.
This press release is available at http://curtisswright2014.q4web.com and http://www.portfoliopr.com
SOURCE Curtiss-Wright Corporation
CONTACT:
Gary Benschip of Curtiss-Wright,
+1-201-896-8520,
[email protected]