PARSIPPANY, N.J., May 2, 2011 (GLOBE NEWSWIRE) -- Curtiss-Wright Corporation (NYSE:CW) today announced that it has received a contract from the Naval Air Systems Command for the manufacture of Recovery Assist, Secure and Traverse (RAST) systems to support the DDG 51 Flight IIA forward-build program. The multi-million dollar contract includes initial authorization for one RAST system to support hull number DDG 113 with options for follow-on systems for hull numbers DDG 114 and DDG 115.
"We are very pleased to continue our support of this important ship program for the U.S. Navy," said Martin R. Benante, CEO and Chairman of Curtiss-Wright Corporation. "The RAST system demonstrates our engineering expertise in providing advanced performance, innovative equipment designs and increased operational efficiency. It is another example of the depth of our technology portfolio and the benefits it brings to our customers."
INDAL Technologies, a business unit of Curtiss-Wright's Flow Control segment, based in Mississauga, Ontario, Canada, will perform the work for this contract, with the first delivery scheduled for December 2012.
RAST is a helicopter handling system that fully integrates all of the functions required to safely operate and stow large ship-borne helicopters. In addition to enabling safe launch and recovery, RAST facilitates the securing and maneuvering of helicopters, particularly in adverse weather and sea conditions up to sea state 5. Curtiss-Wright has delivered more than 200 of its integrated aircraft handling systems to navies around the world.
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 7,700 people worldwide. For more information, visit .
The Curtiss-Wright Corporation logo is available at
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 INDAL Technologies business unit is a world leader in the design and development of ship-borne helicopter handling systems, cable handling systems, specialized structures and other sophisticated systems for the U.S. and international navies. 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 our products, the value of the contract, the continued relationship with an existing customer, the successful implementation and funding of this U.S. 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 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