Curtiss-Wright Awarded $85 Million Contract to Support U.S. Navy’s Ford-Class Aircraft Carrier Program

DAVIDSON, N.C.--(BUSINESS WIRE)-- Curtiss-Wright Corporation (NYSE: CW) today announced that it has been awarded a contract valued in excess of $85 million to provide main propulsion steam turbines and auxiliary equipment for the U.S. Navy’s Ford-class aircraft carrier Enterprise (CVN 80). The award was received from Huntington Ingalls, Newport News Shipbuilding (HII-NNS) to support planned ship construction.

“We are pleased to have been awarded this important naval defense contract, underscoring Curtiss-Wright’s long-standing relationship with the U.S. Navy and continued support of their critical platforms which continue to receive strong Congressional support,” said David C. Adams, Chairman and CEO of Curtiss-Wright Corporation. “This contract reflects the first award received by our Dresser-Rand government business acquired on April 2, 2018, and ensures that we will continue to provide the most advanced and reliable steam turbine technologies to Newport News Shipbuilding and the U.S. Navy. Further, our innovative products and reliable solutions continue to support the U.S. Navy’s cost and delivery targets, and reinforce the fleet readiness commitments for the aircraft carrier platform.”

Curtiss-Wright is performing the work within its EMS division in the Power segment. Engineering and manufacturing will commence in 2018 and will continue through at least 2022. The products will be shipped to Newport News Shipbuilding in Virginia.

For over 60 years, Curtiss-Wright has ensured safe, reliable operations by supplying innovative, high-performance products for every nuclear submarine and aircraft carrier commissioned by the U.S. Navy. In addition, Curtiss-Wright technologies, such as power-dense motors and enhanced valve designs, enable more efficient operations, reduce manpower and cost, and increase safety. For more information on Curtiss-Wright’s EMS division products, please visit http://www.cw-ems.com/.

ABOUT CURTISS-WRIGHT CORPORATION

Curtiss-Wright Corporation (NYSE:CW) is a global innovative company that delivers highly engineered, critical function products and services to the commercial, industrial, defense and energy markets. Building on the heritage of Glenn Curtiss and the Wright brothers, Curtiss-Wright has a long tradition of providing reliable solutions through trusted customer relationships. The company employs approximately 8,600 people worldwide. For more information, visit www.curtisswright.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 expectations of future performance of our steam turbine and auxiliary products, the continued relationship with an existing customer, the successful implementation and the success of this naval defense 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 Exchange Act of 1934, as amended, for further information.

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Source: Curtiss-Wright Corporation