Curtiss-Wright Awarded $28 Million Contract to Support U.S. Navy’s Virginia-Class Submarine Program
June 28 2018 - 9:15AM
Business Wire
Curtiss-Wright Corporation (NYSE: CW) today announced that it
has been awarded a contract valued in excess of $28 million to
provide valves for the U.S. Navy’s Virginia-class submarines. The
award was received from Bechtel Plant Machinery, Inc. (BPMI) to
support ship construction and spare parts procurement. The contract
includes FY18 orders for two ship sets of submarine propulsion
plant valves and spares.
“Curtiss-Wright is pleased to have been awarded this important
naval defense contract, which continues our long-standing
relationship with the U.S. Nuclear Navy and ongoing support of
critical naval defense platforms,” said David C. Adams, Chairman
and CEO of Curtiss-Wright Corporation. “Since the inception of
nuclear powered ships, Curtiss-Wright’s commitment to providing the
most advanced and reliable technologies has ensured our ongoing
participation in these significant defense programs, which continue
to receive strong Congressional support. Further, our innovative
products and reliable solutions support the U.S. Navy’s cost and
delivery targets, while reinforcing fleet readiness
commitments.”
Curtiss-Wright is performing the work at its facility in East
Farmingdale, N.Y., a business unit of Curtiss-Wright’s Industrial
division within the Commercial/Industrial segment. Engineering and
manufacturing has commenced and will continue through 2022.
For over 60 years, Curtiss-Wright has ensured safe, reliable
operations by supplying innovative, high-performance products for
every nuclear submarine and aircraft carrier commissioned by the
U.S. Navy. In addition, Curtiss-Wright technologies, such as
power-dense motors and enhanced valve designs, enable more
efficient operations, reduce manpower and cost, and increase
safety. For more information on Curtiss-Wright’s Industrial
division products, please visit http://www.cw-valvegroup.com/.
About Curtiss-Wright Corporation
Curtiss-Wright Corporation (NYSE:CW) is a global innovative
company that delivers highly engineered, critical function products
and services to the commercial, industrial, defense and energy
markets. Building on the heritage of Glenn Curtiss and the Wright
brothers, Curtiss-Wright has a long tradition of providing reliable
solutions through trusted customer relationships. The company
employs approximately 8,600 people worldwide. For more information,
visit www.curtisswright.com.
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 valve products, the continued
relationship with an existing customer, the successful
implementation and the success of these naval defense programs 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20180628005664/en/
Curtiss-Wright CorporationJim Ryan,
704-869-4621jim.ryan@curtisswright.com
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