Aerospace/Defense Supplier Generates Double-Digit Growth During the Past Five Years
ROSELAND, N.J., Sep 3, 2003 /PRNewswire-FirstCall via COMTEX/ -- Curtiss-Wright Corporation (NYSE: CW; CW.B), a diversified global provider of highly engineered products and services to the motion control, flow control and metal treatment industries, has been named to the Defense News' Fast Track 50 list of the fastest growing international defense firms. In order to qualify for this distinguished group, companies have to be publicly traded and have produced double-digit revenue growth in either a one year, three year or five year period. Though most of the companies on the list have shown double-digit growth only over the past year, Curtiss-Wright has generated tremendous growth during the past five years, with sales growth of 22.3% over the past year, 20.2% over the past three years and 17% over the past five years.
Defense News, a weekly publication that provides in-depth news analysis and coverage of events, policies and power players that shape the global defense industry, tracks over 150 public international defense companies and used research from Jeffries & Co., an investment bank and institutional securities firm, to prepare this list.
"We are pleased to be recognized as one of the top growth-oriented defense suppliers in the world," stated Martin R. Benante, Chairman and CEO of Curtiss-Wright. "This ranking reaffirms that our strategy of organic growth combined with strategic acquisitions will continue to provide us a competitive edge in the future."
Curtiss-Wright Corporation is a diversified company headquartered in Roseland, New Jersey. The Company designs, manufactures and overhauls products for motion control and flow control applications and additionally is a provider of metal treatment services. The firm employs approximately 4,300 people. More information on Curtiss-Wright can be found on the Internet at www.curtisswright.com.
About the Centennial Celebration of Flight
On December 17, 1903, amid the sand dunes of Kitty Hawk, North Carolina, man's quest for powered flight became a reality when a small fabric and wood craft know as the Wright Flyer ushered in the aviation age. The team behind this legendary event, Orville and Wilbur Wright, along with aircraft designer Glenn Curtiss, gave birth to a new industry and founded Curtiss-Wright Corporation, today a multinational provider of metal treatment, motion control and flow control systems for the aerospace and defense industries. For more information about the Centennial Celebration of Flight, visit www.curtisswright.com/centennial.asp.
Forward-looking statements in this release are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. 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 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, and industrial companies. Please refer to the Company's current SEC filings under the Securities and Exchange Act of 1934, as amended, for further information.
This press release and additional information is available at www.curtiss-wright.com and www.portfoliopr.com.
SOURCE Curtiss-Wright Corporation
Glenn E. Tynan of Curtiss-Wright Corporation, +1-973-597-4700,
or firstname.lastname@example.org; or Paul Holm, email@example.com, and
Matthew Karsh, firstname.lastname@example.org, both of Portfolio PR, +1-212-736-9224,
for Curtiss-Wright Corporation