Curtiss-Wright Acquires Two Product Lines From Amidyne Group

STRENGTHENS OBSOLESCENCE SOLUTIONS FOR INSTRUMENTATION AND CONTROLS BUSINESS

PARSIPPANY, N.J., April 19, 2012 (GLOBE NEWSWIRE) -- Curtiss-Wright Corporation (NYSE:CW) announced today that it has acquired the Versatile Measuring Instruments (VMI) and Lisle-Metrix (L-M) product lines from the Amidyne Group for approximately $7 million. The VMI and L-M product lines serve the commercial nuclear power market, and consist of original equipment and re-engineered replacement products for obsolete equipment. The company will integrate both product lines into its Flow Control business segment.

"The acquisition of the VMI and L-M product lines is a strong strategic fit with our existing Instrumentation and Controls business, which provides nuclear grade analog process control instrumentation to support the current installed base of operating reactors," said Martin R. Benante, Chairman and CEO of Curtiss-Wright Corporation. "Both product lines add complementary capabilities for panel meters, conductivity analyzers, timers and relays. Curtiss-Wright's sales and marketing channel focuses on driving aftermarket business with North American nuclear plants, while also developing opportunities for profitable growth in the area of obsolescence solutions for the worldwide process control market."

The Amidyne Group is a privately held Canadian company based in Newmarket, Ontario. It acquired the L-M and VMI product lines in 1998 and 2005, respectively. VMI's product family consists mainly of safety-related panel meters, while L-M's product line is more diverse, including conductivity analyzers, liquid level instruments, timers and relays. Both product lines primarily serve the 30 CANDU (Canada Deuterium Uranium) nuclear power plants worldwide, with the majority of revenue generated from the 21 Canadian CANDU plants.  

ABOUT CURTISS-WRIGHT CORPORATION

Curtiss-Wright Corporation is an innovative engineering company that provides highly engineered, critical-function products, systems and services in the areas of flow control, motion control and metal treatment to the defense, energy and commercial/industrial markets. The legacy company of Glenn Curtiss and the Wright brothers, Curtiss-Wright has a long tradition of design and manufacturing innovation along with long-standing customer relationships. The company employs approximately 8,900 people worldwide. For more information, visit curtisswright2014.q4web.com

The Curtiss-Wright Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7709

ABOUT CURTISS-WRIGHT FLOW CONTROL SEGMENT

Curtiss-Wright Flow Control Company, headquartered in Falls Church, VA, is the Flow Control business segment of Curtiss-Wright Corporation. This business segment designs and manufactures highly engineered valves, pumps, motors, generators, electronics, systems and related products for complex naval defense, power generation, oil and gas and general industrial applications. For more information, visit www.cwfc.com.

This press release contains forward-looking statements made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995 that are based on management's beliefs and assumptions. Such statements, including statements relating to Curtiss-Wright Corporation's expectations for the future performance of Versatile Measuring Instruments and Lisle-Metrix product lines,the future opportunities associated with these product lines, and the success of the Company integrating Versatile Measuring Instruments and Lisle-Metrix product linesinto its Flow Control segment, 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 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.
 

CONTACT: Jim Ryan (973) 541-3766