News Details
CURTISS-WRIGHT OBTAINS PRELIMINARY INJUNCTION AGAINST VELAN INC.
April 18, 2005
Velan Barred From Selling Coke Drum De-Heading Device
ROSELAND, N.J., April 18, 2005 /PRNewswire-FirstCall via COMTEX/ -- Curtiss-Wright Corporation (NYSE: CW; CW.B) announced today that the United States District Court for the Western District of Texas issued a preliminary injunction restraining Velan Inc. from "introducing, marketing, promoting, attempting to sell, or offering to sell" a coke drum de-heading device it had begun to offer in competition with Curtiss-Wright's patented DeltaGuard® coke drum de-heading device. The Court found that Curtiss-Wright had "made a clear showing" that the Velan device infringed Curtiss-Wright's patent and that Curtiss-Wright was likely to prevail at trial on the merits of its patent infringement claim against Velan.
DeltaGuard is a revolutionary, fully-automated, inherently safe coke drum de-heading system which, in addition to dramatically improving safety, provides significant economic advantages to refiners. This product, which was developed by the Company's DeltaValve® division, a unit of the Flow Control segment of Curtiss-Wright Corporation, has become the global standard in the industry.
"We are very pleased that the Court has enforced Curtiss-Wright's patent for the DeltaValve coke drum de-heading technology," commented Martin R. Benante, Chairman and CEO. "Curtiss-Wright's shareholders have funded the development of an array of technologies that are driving organic growth across our three businesses. We will ensure that our competitors do not infringe our intellectual property and erode the value of our investment in emerging technologies."
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 a variety of metal treatment services. The firm employs approximately 5,600 people worldwide. More information on Curtiss-Wright can be found on the Internet at http://curtisswright2014.q4web.com.
ABOUT CURTISS-WRIGHT FLOW CONTROL
Headquartered in Farmingdale, New York, Curtiss-Wright Flow Control ("CWFC") is the flow control segment of Curtiss-Wright Corporation. Founded in 1950, CWFC specializes in the design and manufacture of highly engineered valves, pumps, advanced electrical machines, electronics and related products for commercial and defense industries. Today, CWFC's sophisticated products are installed on every nuclear submarine and aircraft carrier commissioned by the United States Navy, and an integral part of worldwide commercial nuclear power plants, oil and gas processing facilities, automotive and general industrial markets. For more information, visit http://www.cwfc.com.
ABOUT DELTAVALVE
DeltaValve, a division of Curtiss Wright Flow Control, the Flow Control segment of Curtiss-Wright Corporation, is a world leader in delayed coking solutions. Headquartered in South Jordan, Utah, the company designs, engineers, and manufactures a complete line of industrial products for the delayed coking and flow control industries. For more information, visit http://www.deltavalve.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, 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
Alexandra M. Deignan,
+1-973-597-4734,
for Curtiss-Wright Corporation