PARSIPPANY, N.J., Jan. 7, 2011 (GLOBE NEWSWIRE) -- Curtiss-Wright Corporation (NYSE:CW) today announced that it has acquired Predator Systems Incorporated (PSI) for $13.25 million. PSI designs and manufactures motion control components and subsystems for ground defense, ordnance guidance and aerospace applications. PSI will operate within the Flight Systems division of Curtiss-Wright's Motion Control segment.
"PSI's proprietary electro-hydraulic technologies broaden Curtiss-Wright's motion control portfolio, further entrenching our position as a premier supplier for the aerospace and defense markets," said Martin R. Benante, Chairman and CEO of Curtiss-Wright Corporation. "PSI's engineering expertise and advanced product technologies add key building blocks to our actuation, sensor and electronics product lines. PSI's unique capabilities build on Curtiss-Wright's long history of providing highly engineered solutions to an expanding market and customer base."
With 2010 sales of approximately $8 million, the company's key technologies include smart manifolds that feature embedded electronics, hydraulic motors and pumps, electro-hydraulic servo valves, dampers and hydraulic fuses. PSI is an ISO9001-2008 Quality System Registration and FS AS9100 certified company. Founded in 1988, the company is based in Boca Raton, FL and has 45 employees.
About Curtiss-Wright
Curtiss-Wright Corporation is a diversified company headquartered in Parsippany, NJ. The company designs and manufactures products for motion control and flow control applications, and provides a variety of specialized metal treatment services. The firm employs approximately 7,600 people worldwide. For more information, visit www.curtisswright.com.
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About Curtiss-Wright Controls, Inc.
Headquartered in Charlotte, NC, Curtiss-Wright Controls is the Motion Control segment of Curtiss-Wright Corporation and a leading designer and manufacturer of advanced technologies for niche actuation and drive applications, integrated sensors and electronic subsystems internationally for the aerospace and defense markets. For more information, visit www.cwcontrols.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 Predator Systems Incorporated, the future opportunities associated with the acquisition, and the success of the Company integrating Predator Systems Incorporated into its Motion Controls 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: Glenn Tynan (973) 541-3710