News Details
CURTISS-WRIGHT COMPLETES ACQUISITION OF SYNERGY MICROSYSTEMS, INC.
August 31, 2004
Acquisition Strengthens Embedded Computing Position in Global Markets
ROSELAND, N.J., Aug. 31 /PRNewswire-FirstCall/ -- Curtiss-Wright Corporation (NYSE: CW; CW.B) has completed the acquisition of Synergy Microsystems, Inc. ("Synergy). The transaction was a stock purchase for $49 million in cash. Synergy will operate as a business unit of the Motion Control segment of Curtiss-Wright, based in Gastonia, N.C.
"This acquisition broadens Curtiss-Wright's offering of state-of-the-art products and superior support services for embedded systems," said Martin R. Benante, Chairman and CEO of Curtiss-Wright. Synergy specializes in the design, manufacture and integration of single- and multi-processor, single-board computers for VME and CompactPCI systems to meet the needs of demanding real-time applications in military, aerospace, industrial and commercial markets.
Synergy, headquartered in San Diego, CA, has a facility in Tucson, AZ, and employs 110 people with estimated 2004 annual sales of approximately $23 million.
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 metal treatment services. The firm employs approximately 5,100 people worldwide. More information on Curtiss-Wright can be found on the Internet at http://curtisswright2014.q4web.com.
ABOUT CURTISS-WRIGHT CONTROLS, INC.
Headquartered in Gastonia, North Carolina, Curtiss-Wright Controls, Inc. is the Motion Control segment of Curtiss-Wright Corporation. With manufacturing facilities around the world, Curtiss-Wright Controls is a leading technology-based organization providing niche motion control products, embedded computers, subsystems and services internationally. For more information, visit http://www.cwcontrols.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
CONTACT: Alexandra M. Deignan, +1-973-597-4734, for Curtiss-Wright Corporation
Web site: http://curtisswright2014.q4web.com
http://www.cwcontrols.com