Curtiss-Wright Awarded $49 Million Contract for U.S. Naval Defense Platforms

CHARLOTTE, N.C.--(BUSINESS WIRE)-- Curtiss-Wright Corporation (NYSE: CW) today announced that it has been awarded a contract valued in excess of $49 million to provide valves for the U.S. Navy’s Virginia-class submarines and Ford-class aircraft carriers. The award was received from Bechtel Plant Machinery, Inc. (BPMI) to support ship construction and spare parts procurement. The contract includes FY17 orders for two ship sets of submarine propulsion plant valves and a FY17 order for aircraft carrier propulsion plant valves.

“We are pleased to have been awarded this important naval defense contract, which reflects Curtiss-Wright’s long-standing relationships and continued support of these critical U.S. naval defense platforms,” said David C. Adams, Chairman and CEO of Curtiss-Wright Corporation. “Since the inception of nuclear powered ships, Curtiss-Wright’s commitment to providing the most advanced and reliable technologies has ensured our continued participation in these significant defense programs, which continue to receive strong Congressional support. Further, our innovative products and reliable solutions support the U.S. Navy’s cost and delivery targets, while reinforcing the fleet readiness commitments for both platforms.”

Curtiss-Wright is performing the work at its facility in East Farmingdale, N.Y., a business unit of Curtiss-Wright’s Industrial division within the Commercial/Industrial segment. Engineering and manufacturing has commenced and will continue through 2021.

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 Industrial division products, please visit http://www.cw-valvegroup.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 8,000 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 valve products, the continued relationship with an existing customer, the successful implementation and the success of these naval defense programs 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