News Details
CURTISS-WRIGHT EXPANDS PORTFOLIO OF OIL & GAS TECHNOLOGY
October 25, 2006
Supply of High Speed Motors Drive Major Advancement in Compressor System Technology
ROSELAND, N.J., Oct. 25 /PRNewswire-FirstCall/ -- Curtiss-Wright Corporation (NYSE: CW) announced today that it has teamed with Dresser-Rand Company to design and supply high speed motors to power Dresser-Rand's compact Integrated Compression System (ICS), a major advancement in compressor system technology and packaging for the oil and gas market. Under a teaming agreement with Dresser-Rand, Curtiss-Wright's Electro-Mechanical Division (EMD), a company of Curtiss-Wright's Flow Control segment, will supply the extremely power-dense motors to drive the ICS family of products.
Curtiss-Wright EMD's significant expertise in advanced motor and generator technology for critical applications is a key to this advanced technology system. The innovative motor design draws upon more than 50 years of Curtiss- Wright EMD experience developing close-coupled motor systems in which the motor is directly integrated with the load that it is driving - a key element of the ICS design and packaging. The resulting technology is highly compact, providing significant weight and volume reductions, as well as unprecedented reliability, to the complete system.
The ICS, officially introduced at the Turbomachinery Symposium in Houston in September 2006, can be utilized in all oil and gas markets, upstream, midstream and downstream, onshore and offshore projects.
"The ICS technology enables a 50% reduction in volume and weight over conventional systems which will provide a highly cost-effective solution to customers as well as improved performance," said Curtiss-Wright Chairman and CEO Martin R. Benante. "We are excited to team with Dresser-Rand, a global market leader, in developing this advanced system for the oil and gas market. Applying our patented, high performance technologies developed for military platforms to high demand commercial applications creates a growing portfolio of products and expanded markets for Curtiss-Wright."
After delivering a demonstration motor earlier this year to support the ICS qualification program, the first production motor is expected to be delivered to Dresser-Rand in June 2007. In addition, Curtiss-Wright EMD, a leader in electrical system design and modeling, will integrate the motor with the power distribution and control system.
This teaming agreement builds on Curtiss-Wright EMD's expanding portfolio of products for the oil and gas market. We recently formed a joint venture with Cameron International, Cameron / Curtiss-Wright EMD LLC, to supply subsea multiphase pumping systems for offshore oil production.
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 metal treatment services. The firm employs approximately 6,300 people worldwide. More information on Curtiss-Wright can be found on the Internet at curtisswright2014.q4web.com
ABOUT CURTISS-WRIGHT FLOW CONTROL
Curtiss-Wright Flow Control specializes in the design and manufacture of highly engineered valves, pumps, electronics and related products for the commercial nuclear power industry, oil and gas processing facilities, and a range of critical national defense programs. CWFC's innovative, high- performance products are installed on every nuclear submarine and aircraft carrier commissioned by the U.S. Navy, and play an integral role in the safe, efficient operation of power plants and other industrial sites worldwide. Based in Falls Church, VA, the company has 2,000 employees worldwide, and is the Flow Control operating segment of Curtiss-Wright Corporation. For more information, visit www.cwfc.com.
This press release contains forward-looking statements made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995 that are based on management's beliefs and assumptions, current expectations, estimates and projections. This release contains forward- looking statements regarding the continued relationship with a customer and the potential success of a teaming agreement. Such statements, including statements relating to Curtiss-Wright Corporation's expectations for future financial performance, are not considered historical facts and are considered forward-looking statements under the federal securities laws. 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 US and Foreign 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.
SOURCE Curtiss-Wright Corporation
CONTACT:
Alexandra M. Deignan of Curtiss-Wright Corporation,
+1-973-597-4734