News Details
Acquisition Increases Presence in the Electronic Systems Marketplace
ROSELAND, N.J., Aug. 4 /PRNewswire-FirstCall/ -- Curtiss-Wright Corporation (NYSE: CW; CW.B), a diversified global provider of highly engineered products and services to the motion control, flow control and metal treatment industries, announced today the acquisition of Peritek Corporation, a leading supplier of video and graphic display boards for the embedded computing industry with annual sales of approximately $3 million. Peritek's growing customer base includes a number of key defense industry leaders such as Lockheed Martin, Northrop Grumman, Boeing, Raytheon, BAE Systems, and General Dynamics.
Since 1976, Peritek has supplied state-of-the-art graphics and peripheral cards to a variety of industries including aviation, defense and medical. Its cutting-edge graphics controllers include PMC, PCI, CompactPCI and VME solutions that support a number of operating languages including Solaris, Windows, Linux, VxWorks and LynuxOS. In addition, Peritek supplies products for bomb detection, industrial automation and medical imaging applications. The purchase price was $3 million.
"Acquiring Peritek is consistent with our desire to expand our presence in the electronic systems arena," said Martin Benante, Chairman and CEO of Curtiss-Wright. "It complements existing divisions in our motion control segment and enhances our ability to offer our customers greater subsystem solutions. This acquisition provides us with a key building block to help fuel our organic growth efforts."
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 additionally is a provider of metal treatment services. The firm employs approximately 4,300 people. More information on Curtiss-Wright can be found on the Internet at curtisswright2014.q4web.com.
Forward-looking statements in this release are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. 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 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, 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.
This press release and additional information is available at www.curtiss-wright.com and www.portfoliopr.com.
SOURCE Curtiss-Wright Corporation
CONTACT:
Glenn Tynan of Curtiss-Wright Corporation,
+1-973-597-4700,
[email protected];
Paul Holm,
[email protected],
or Matthew Karsh,
[email protected],
both for Curtiss-Wright Corporation.