Curtiss-Wright Controls Signs Contract with Selex Galileo
To Provide Rugged DSP Processor Modules for new Gripen NG Aircraft's Fire Control System
CHARLOTTE, NC – September 6, 2011 – Curtiss-Wright Corporation (NYSE:CW) today announced that it has been selected by SELEX Galileo to supply rugged embedded digital signal processor modules for use on Saab's new Gripen Next Generation (NG) fighter aircraft. The contract, which runs from 2010 to 2014, is valued at $15 million, and has an estimated potential additional value of $10 million over the lifetime of the program.
"Curtiss-Wright is excited to partner with SELEX Galileo in providing our advanced digital signal processing technology for use on Saab's new Gripen NG fighter jet," said David Adams Co-Chief Operating Officer for Curtiss-Wright Corporation.
Curtiss-Wright will develop the rugged CHAMP-AV6 DSP modules at its Ashburn, Virginia facility. The boards will be shipped to SELEX Galileo in Edinburgh, Scotland.
About Curtiss-Wright Controls, Inc.
Curtiss-Wright Controls, Inc., headquartered in Charlotte, NC, is the Motion Control business segment of Curtiss-Wright Corporation. This business segment designs and manufactures complex motion control components, systems and subsystems for very specialized defense, commercial aerospace and general industrial applications. For more information, visit www.cwcontrols.com.
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 8,400 people worldwide. For more information, visit www.curtisswright.com.
The Curtiss-Wright Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7709
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This press release contains forward-looking statements made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements, including statements relating to Curtiss-Wright Corporation's expectations of future performance of our development work, the value of the contract, the continued relationship with an existing customer, the successful implementation and funding of this government program and future opportunities associated with this program, 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 and Foreign 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.
