News Details
CURTISS-WRIGHT AWARDED CONTRACT BY NAVAL SURFACE WARFARE CENTER TO UPGRADE ELECTRIC VALVE OPERATOR ASSEMBLIES
September 02, 2003
$61.8 Million Contract to Upgrade JP-5 Fuel Valve Systems On Nimitz Class Aircraft Carriers
ROSELAND, N.J., Sept. 2 /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 that the Navy Surface Warfare Center awarded it a $61.8 million contract to supply next-generation JP-5 fuel valve systems for use on Nimitz class nuclear aircraft carriers. The leading-edge JP-5 valve incorporates leakless valve technology and smart valve features and forms; most important, it provides a foundation for the use of advanced valve technologies in future smart carrier initiatives. Curtiss-Wright received the contract after two years of exhaustive testing by the Navy.
The JP-5 valves will be manufactured by Target Rock, a division of Curtiss-Wright's Flow Control business segment that produces severe service duty valves for the Navy and commercial nuclear and processing industries. This is the only valve design that has been certified as leakless by the California Air Resource Board. Other benefits of the valve include improved safety and environmental conditions, increased operational reliability, and a reduction in maintenance cost and manpower requirements.
Martin R. Benante, Curtiss-Wright's Chairman and CEO, commented, "The decision by the Navy Surface Warfare Center to use our JP-5 fuel valve further demonstrates that Curtiss-Wright is the leader in leakless valve technology. The combination of a leakless technology with smart valve applications represents a breakthrough in the state-of-the-art design of fuel valve systems. Industries that are looking to improve safety, reliability, environmental conditions and maintenance costs now have a certified solution that will enhance their processes. Our Target Rock division is ready to meet the needs of the expanding marketplace for advanced leakless valve 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 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.
ABOUT THE CENTENNIAL CELEBRATION OF FLIGHT
On December 17, 1903, amid the sand dunes of Kitty Hawk, North Carolina, man's quest for powered flight became a reality when a small fabric and wood craft know as the Wright Flyer ushered in the aviation age. The team behind this legendary event, Orville and Wilbur Wright, along with aircraft designer Glenn Curtiss, gave birth to a new industry and founded Curtiss-Wright Corporation, today a multinational provider of metal treatment, motion control and flow control systems for the aerospace and defense industries. For more information about the Centennial Celebration of Flight, visit curtisswright2014.q4web.com/centennial.asp.
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,
+1-973-597-4700,
[email protected]
of Curtiss-Wright Corporation;
or Paul Holm,
[email protected];
or Matthew Karsh
[email protected],
+1-212-736-9224,
both for Curtiss-Wright Corporation.