PARSIPPANY, N.J., May 7, 2009 /PRNewswire-FirstCall via COMTEX News Network/ -- Sikorsky Aircraft Corporation has awarded Curtiss-Wright Corporation (NYSE: CW) a contract to develop and supply data concentrator units for the CH-53K heavy-lift helicopter that is being developed for use by the U.S. Marine Corps. Sikorsky is a subsidiary of United Technologies Corp. (NYSE:UTX).
"We are extremely pleased for the vote of confidence placed in Curtiss-Wright by Sikorsky Aircraft for this critical element of a very complex aircraft system," said Martin R. Benante, Curtiss-Wright Chairman and CEO. "The helicopter market continues to be a significant contributor to the growth of our core military aerospace business and has been a key factor in the robust organic sales growth of our integrated sensing products."
The contract has a total potential value of $22 million when development and all aircraft production options and phases are completed. The initial contract runs through 2011 with the production phase starting in 2013.
Curtiss-Wright's system consists of two data concentrator units (DCUs) that will receive and provide various avionic and air vehicle discrete, digital and analog inputs for monitoring, processing data and controlling various CH-53K subsystem components.
Curtiss-Wright will develop and manufacture the DCU systems at its Motion Control segment City of Industry, CA, facility, which recently opened to accommodate the growth in demand for integrated sensing products.
The Sikorsky CH-53E Super Stallion (Sikorsky S-80E) is the largest and heaviest helicopter in the United States military. The CH-53K is expected to replace the CH-53E helicopters that the Marine Corps currently deploys from amphibious assault ships to transport personnel and equipment, and to carry external cargo loads. The CH-53K is designed to transport heavy payloads over longer distances and will significantly reduce operation and support costs. Sikorsky Aircraft Corp., based in Stratford, CT, is a world leader in helicopter design, manufacture and service. United Technologies Corp. provides a broad range of high technology products and support services to the aerospace and building systems industries.
Curtiss-Wright Corporation is a diversified company headquartered in Parsippany, N.J. 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 7,900 people worldwide. For more information about Curtiss-Wright visit www.curtisswright.com.
About Curtiss-Wright Controls, Inc.
Headquartered in Charlotte, N.C., Curtiss-Wright Controls is the motion control segment of Curtiss-Wright Corporation. With manufacturing facilities around the world, Curtiss-Wright Controls is a leading technology-based organization, providing niche motion control products, subsystems and services for the aerospace, defense, naval and industrial 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. Such statements, including statements relating to Curtiss-Wright Corporation's expectations of the potential duration and value of this contract, the success of our development work, the continued relationship with an existing customer, the successful implementation of this technology, the continued funding of this military program, and future opportunities associated with this contract, 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.
SOURCE Curtiss-Wright Corporation
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