News Details
CURTISS-WRIGHT WINS $6.3 MILLION CONTRACT FOR RADAR WARNING RECEIVER SYSTEMS
July 20, 2004
Provides Leading Technology Insertion Solutions for US Army Helicopters
FARNBOROUGH, England, July 20 /PRNewswire-FirstCall/ -- Curtiss-Wright Corporation (NYSE: CW; CW.B) has received a $6.3 million contract from Lockheed Martin for procurement of Radar Warning Receiver (RWR) systems currently used by the U.S. Army on helicopter programs such as the Black Hawk, Chinook, Apache and Kiowa Warrior. The firm-fixed-price contract award includes additional contract options for a total contract potential of $17.6 million over the next two years.
RWRs are crucial safety systems designed specifically for military aircraft applications. The RWR monitors the environment for radar signals, characterizes them and provides varying levels and types of warnings in order to allow aircraft crews to take evasive maneuvers or deploy countermeasures. These systems are essential in improving the probability of survival for military aircraft and personnel.
"We are excited to assist Lockheed Martin and our armed services with this crucial system which will help protect our military's aircraft and crews going into harm's way around the world," said Martin R. Benante, Chairman and CEO of Curtiss-Wright. "Curtiss-Wright is proud to support this vital program and will continue to provide the most innovative technology solutions as the scope of avionics programs continue to evolve."
Curtiss-Wright is an established provider of electronic components and subsystems to the Department of Defense (DoD) and prime contractors for many current military platforms. Through its Motion Control segment, Curtiss- Wright has developed a niche market in obsolescence mitigation techniques, such as technology insertion solutions, for current defense programs. Recently, the company expanded its capabilities on ground vehicles to include avionics products deployed on military aircraft, and this contract represents the first complete system order to be awarded to the Company.
The decision was made through Lockheed Martin's CECOM Rapid Response Program (CR2), a contract vehicle that streamlines acquisitions for Government Platform Managers. When needed, the Lockheed Martin CR2 office quickly supplies hardware and services to the DoD as well as the State Department, Transportation Department, NASA and others.
The RWR systems will be procured or manufactured, integrated and tested at VISTA Controls in Littleton, MA, a business unit of Curtiss-Wright's Motion Control segment which specializes in the design and manufacture (or remanufacture) of electronic components and subsystems that require improved performance or technology upgrades. Delivery of 108 RWR systems is expected to commence in 2005 and estimated to be completed in 2007.
ABOUT CURTISS-WRIGHT CORPORATION
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 5,000 people worldwide. The company will celebrate its 75th anniversary in August, 2004. 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, electronic, 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