PARSIPPANY, N.J., Sept. 2, 2010 (GLOBE NEWSWIRE) -- Curtiss-Wright Corporation (NYSE:CW) today announced that TapcoEnpro International (TEI), a business unit of its Flow Control segment, broke ground to officially commence construction of a $36 million, state-of-the-art manufacturing facility in Chambers County, TX. The company will build large vessels and equipment for the refining and petrochemical industries as well as support the production of large valve products in the new facility, which will house some of the most modern machining and fabrication equipment available in the industry. The facility is expected to be operational in March 2011.
"The commitment to build this facility represents a significant capital investment for Curtiss-Wright, and demonstrates the important role we believe energy markets will play in the future of our company," said Martin R. Benante, Chairman and CEO of Curtiss-Wright Corporation. "Through our technology, engineering expertise and this state-of-the art manufacturing facility we will continue to offer profound systems solutions for the global refining and petrochemical industries."
The new facility will cover over 12 acres of property and includes a 118,000-square-foot manufacturing area. Key features will include on-site blasting and painting, refractory installation, superior material handling and convenient barge transportation. The facility, once fully operational, will create approximately 100 jobs, from engineering positions to skilled machinists and assemblers. TEI currently has 255 employees in the Houston area.
The project will advance TEI's leadership in supplying products and technology to the severe service process industries. Unlike other valve manufacturers, TEI is the industry's only single source provider of a turnkey package of slide valves, actuators, power skid units, field service, Fluid Catalytic Cracking Unit (FCCU) equipment, reactors and large diameter pressure vessels.
Clif Jacobs, Vice President and General Manager, Curtiss-Wright Oil & Gas Systems, hosted the groundbreaking event. Joining him were Joe Ditolla, TEI's General Manager, the Honorable Rick Perry, Governor of the State of Texas, State Representative Craig Eiland, Chambers County Judge Jimmy Sylvia and Baytown Mayor Steve Don Carlos.
"Today, we break ground on a facility, part of TapcoEnpro's capital investment in Baytown and Chambers County, that will soon be filled with workers producing equipment for our state's vibrant energy sector," said Governor Perry. "Thanks to investments like the Texas Enterprise Fund, this new manufacturing facility will help enhance TapcoEnpro's already strong reputation as producers of quality technology."
TEI retained Stream Realty Partners, LP for site selection and acquisition services. Dallas-based MAXIMUS was contracted to identify, analyze and deliver applicable state and local business incentives for the project. Various states and communities were of initial interest. In the end, Baytown and Chambers County were identified as the most optimal location. Urban Companies will perform the site preparation and construction.
Curtiss-Wright Corporation is a diversified company headquartered in Parsippany, NJ. The company designs, manufactures and overhauls products for motion control and flow control applications, and provides a variety of specialized metal treatment services. The firm employs approximately 7,500 people worldwide. For more information, visit .
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About Curtiss-Wright Flow Control
Curtiss-Wright Flow Control specializes in the design and manufacture of highly engineered valves, pumps, motors, generators, electronics, systems and related products for the commercial nuclear power industry, oil and gas processing facilities and a range of critical military programs. Its innovative, high-performance products play an integral role in our nation's defense and in the safe, efficient operation of power plants and other industrial sites worldwide. Based in Falls Church, VA, the company has more than 3,400 employees worldwide and is the Flow Control segment of Curtiss-Wright Corporation. Its TapcoEnpro International business unit is a market leader in manufacturing high performance valves, electro-hydraulic actuator systems, pressure vessels, reactor vessels and other critical products and services for the global refining and petrochemical markets. For more information, visit .
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 this facility, the number of jobs being created, and future opportunities that may be associated with the construction, completion and operation of this facility 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 U.S. 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.
CONTACT: Curtiss-Wright Corporation Glenn Tynan (973) 541-3710