Curtiss-Wright to Acquire TAPCO International; Complementary Product Lines Offer New Marketing Opportunities

LYNDHURST, N.J., Nov. 25 /PRNewswire-FirstCall/ -- Curtiss-Wright Corporation (NYSE: CW, CW.B) announced the signing of an agreement with Triten Corporation for the acquisition of the assets of its wholly owned subsidiary, TAPCO International, Inc., ("TAPCO"). Curtiss-Wright has agreed to acquire TAPCO for $10.5 million in cash and assumption of certain operating liabilities. The acquisition is expected to be completed in December. TAPCO will become part of Curtiss-Wright's Flow Control business segment.

TAPCO designs, engineers and manufactures high-performance metal seated industrial gate valves, butterfly valves, flapper valves, actuators, and internal components used in high-temperature, highly abrasive, and highly corrosive environments in the petrochemical refining industry. It also provides inspection, installation, repair and maintenance, and other field services for harsh environment flow control systems. TAPCO's products are primarily used in catalytic cracking units of refineries. The company is located in Houston, Texas and also has a small operation in the UK to serve the European market. Sales for fiscal year ending April 30, 2002 were $14.1 million.

Commenting on the acquisition, Martin Benante, Chairman and CEO of Curtiss-Wright stated, "Strategically, TAPCO provides Curtiss-Wright an opportunity to extend its product portfolio and complement an existing product line that supports many of the same end-users. TAPCO's severe service sliding gate valve product line performs a similar function in fluid catalytic cracking units of refineries, as does our Delta Valve in the coking process. Many refineries have both coke and catalytic cracking units. Both TAPCO and our Delta Valve business unit share many of the same customers and marketing organizations.

"TAPCO's severe service, highly engineered product line allows us to offer a broader array of products and strengthen our presence in the oil and gas, and petrochemical processing markets. The complementary product lines, design and engineering, marketing, and geographic location of TAPCO make this a good addition for Curtiss-Wright. Its customer base provides an opportunity to expand sales of our other Flow Control Valve products throughout North America, and Europe."

ABOUT CURTISS-WRIGHT

Curtiss-Wright Corporation is a diversified company headquartered in Lyndhurst, 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 4,100 people. More information on Curtiss-Wright can be found on the Internet at http://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 the 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 is available at http://curtisswright2014.q4web.com and http://www.portfoliopr.com.

SOURCE Curtiss-Wright Corporation

CONTACT:
Gary Benschip of Curtiss-Wright Corporation,
+1-201-896-8520,
[email protected]/