News Details
LEADING DESIGNER AND MANUFACTURER OF DATA ACQUISITION SYSTEMS FOR GLOBAL DEFENSE AND COMMERCIAL AEROSPACE MARKETS
PARSIPPANY, N.J., July 28, 2011 (GLOBE NEWSWIRE) -- Curtiss-Wright Corporation (NYSE:CW) announced today that it has acquired ACRA Control, Limited (ACRA) for approximately €42 million (approximately $61 million) in cash. ACRA is a leading supplier of data acquisition systems and networks, data recorders and telemetry ground stations for both defense and commercial aerospace markets. The business will operate within Curtiss-Wright's Motion Control segment.
"ACRA's proprietary data acquisition technologies significantly broaden Curtiss-Wright's electronics and avionics portfolio and establishes us as a 'best-of-breed' supplier in the worldwide aircraft test and instrumentation market," said Martin R. Benante, Chairman and CEO of Curtiss-Wright Corporation. "As a leading global airborne data acquisition system provider, ACRA serves a diverse and expanding customer base of the world's leading fixed- and rotor-wing aircraft manufacturers. This expertise and experience provides Curtiss-Wright penetration into the global aircraft test and instrumentation market."
ACRA's product families include modular data acquisition, solid-state recorders, ethernet switches/networking, wireless data transmission, telemetry ground stations and ground station analysis software. Founded in 1991, ACRA is based in Dublin, Ireland and has 128 employees. The company's wholly owned subsidiary, ACRA Control, Inc., is located in Leonardtown, MD, and serves as the sales and customer support center for North and South America.
The combination of ACRA's customizable modular products, engineering expertise and advanced technologies along with Curtiss-Wright's current data recording and avionics solutions enables us to provide aerospace and defense customers with a fully integrated system featuring enhanced data acquisition capabilities, airborne ethernet data transmission and synchronization and wireless download of data to ground stations.
In addition, ACRA's advanced ethernet switch technology will enhance the value of Curtiss-Wright's system-level approach to C4ISR (Command, Control, Communications, Computers, Intelligence, Surveillance and Reconnaissance) solutions. ACRA's highly skilled hardware and software engineering workforce will expand Curtiss-Wright's development capability with specialized skills in data acquisition, embedded recording, networking and analysis software.
ABOUT CURTISS-WRIGHT CORPORATION
Curtiss-Wright Corporation is an innovative engineering company that provides highly engineered, critical function products, systems and services in the areas of flow control, motion control and metal treatment to the defense, energy and commercial/industrial markets. The legacy company of Glenn Curtiss and the Wright brothers, Curtiss-Wright has a long tradition of design and manufacturing innovation along with long-standing customer relationships. The company employs approximately 8,400 people worldwide. For more information, visit curtisswright2014.q4web.com
The Curtiss-Wright Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7709
ABOUT CURTISS-WRIGHT MOTION CONTROL SEGMENT
Curtiss-Wright Controls, Inc., headquartered in Charlotte, NC, is the Motion Control business segment of Curtiss-Wright Corporation. This business segment designs and manufactures complex motion control components, systems and subsystems for very specialized defense, commercial aerospace and general industrial applications. 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 that are based on management's beliefs and assumptions. Such statements, including statements relating to Curtiss-Wright Corporation's expectations for the future performance of ACRA Control, Limited, the future opportunities associated with the acquisition, and the success of the Company integrating ACRA Control, Limited into its Motion Controls segment, 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 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 Exchange Act of 1934, as amended, for further information.
CONTACT: Jim Ryan (973) 541-3766