News Details
CURTISS-WRIGHT RECEIVES $7.25 MILLION CONTRACT FROM BATH IRON WORKS
July 18, 2007
To Develop Aircraft Ship Integrated Secure and Traverse (ASIST) Systems and Integrated Track for the DDG-1000 Ship Program
ROSELAND, N.J., July 18 /PRNewswire-FirstCall/ -- Curtiss-Wright Corporation (NYSE: CW), through its Motion Control segment, has received a contract valued at approximately $7.25 million from Bath Iron Works, part of General Dynamics Corporation, for design and development of the ASIST system and integrated track to be fitted on the DDG 1000, Zumwalt-class destroyers. Subsequent contracts are anticipated for the production systems to be fitted on the first two ships currently authorized by the U.S. Navy. The total value of the future contracts could exceed $30 million with options for follow-on ships.
ASIST is a state-of-the-art deck handling solution for shipboard helicopter operations which integrates the functions required for landing and on-deck operations to stow large ship-borne helicopters. Using the ASIST system, all deck handling operations can be accomplished without the need for personnel on the flight deck. The ASIST provides for safe helicopter handling day or night, even in adverse weather and sea conditions up to sea state 6.
"Curtiss-Wright is very pleased to be working on this exciting new ship program," said Martin R. Benante, Chairman and Chief Executive Officer of Curtiss-Wright. "The contract award is a testament to the ASIST system's superior performance and overall value for our customers."
The DDG-1000 Zumwalt is the lead ship in a class of next-generation, multi-mission surface combatants. It is being designed to require a smaller crew and be less expensive to operate than comparable warships. It will have a wave-piercing "tumblehome" hull form whose sides slope inward above the waterline. Bath Iron Works in Maine and Northrop Grumman's Ingalls Shipbuilding in Mississippi will build the first two ships.
Work for this contract will be performed at Curtiss-Wright's facility in Mississauga, Ontario, Canada, with deliveries scheduled beginning in 2010.
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 6,800 people worldwide. More information on Curtiss-Wright can be found on the Internet at curtisswright2014.q4web.com.
ABOUT CURTISS-WRIGHT CONTROLS, INC.
Headquartered in Charlotte, North Carolina, Curtiss-Wright Controls is the motion control segment of Curtiss-Wright Corporation (NYSE: CW). With manufacturing facilities around the world, Curtiss-Wright Controls is a leading technology-based organization providing niche motion control products, subsystems and services internationally for the aerospace and defense markets. For more information, visit www.cwcontrols.com.
This release contains forward-looking statements made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements related to the success of a defense program, the continuation of the U.S. government to allocate funding to such program, the continued relationship with a existing customer, and the potential value of the contract over the life of the program. These 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 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.
SOURCE Curtiss-Wright Corporation
CONTACT:
Alexandra M. Deignan of Curtiss-Wright Corporation
+1-973-597-4734