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CURTISS-WRIGHT RECEIVES CONTRACT FROM JAPAN MINISTRY OF DEFENSE
March 27, 2008
SUPPLYING RECOVERY ASSIST, SECURE AND TRAVERSE (RAST) SYSTEM FOR JAPAN MARITIME SELF-DEFENSE FORCE 19DD DESTROYER PLATFORM
ROSELAND, N.J., March 27, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- Curtiss-Wright Corporation (NYSE: CW) announced today that it has received a Japan Ministry of Defense contract, through Mitsubishi Corporation, for the supply of a RAST Mark VI system to be integrated on-board the new Japan Maritime Self-Defense Force 19DD destroyer platform. Work for this contract will be performed by Curtiss-Wright's Motion Control segment in Mississauga, Ontario, Canada, with deliveries scheduled to begin in late 2009.
The 19DD RAST Mark VI is a hybrid system that builds on the well- established capabilities of the original RAST system, currently in operation with the Japanese, Canadian, U.S., Australian, Spanish and Taiwanese Navies. It incorporates selected features and capabilities from the more advanced Aircraft Ship Integrated Secure and Traverse (ASIST) system also produced by Curtiss-Wright. The resulting hybrid system provides improved capabilities and functionality with reduced size and weight relative to earlier RAST systems.
"Curtiss-Wright is very pleased to continue its support of the Japan Ministry of Defense and to be a part of this exciting new ship program," Martin R. Benante, Chairman and Chief Executive Officer of Curtiss-Wright. "The supply of the improved RAST Mark VI system demonstrates our engineering expertise in providing advanced performance and innovative equipment designs, and to provide overall value through operational efficiency."
The 19DD is the lead ship in a new class of Japan Maritime Self-Defense Force helicopter-capable destroyers and is designed to incorporate the latest advancements in shipboard mission systems. Curtiss-Wright's technology for ship-borne aircraft handling systems (AHS), underwater sensor handling systems and specialized structures has been integral to advanced naval platforms since the early 1960s.
ABOUT CURTISS-WRIGHT
Curtiss-Wright Corporation is a diversified company headquartered in Roseland, N.J. 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 7,500 people worldwide. More information on Curtiss-Wright can be found 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. 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 press release contains forward-looking statements made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements, including statements relating to Curtiss-Wright Corporation's continued relationship with an existing customer, the successful implementation of this government program and future opportunities associated with this program, 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.
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