PARSIPPANY, N.J., May 11, 2009 /PRNewswire-FirstCall via COMTEX News Network/ -- Curtiss-Wright Corporation (NYSE: CW) announced it has been awarded a multi-million dollar contract by ASC AWD Shipbuilder Pty. Ltd., on behalf of the Air Warfare Destroyer (AWD) Alliance, to supply Aircraft Ship Integrated Secure and Traverse (ASIST) helicopter handling systems and modular lightweight tracks for three Hobart Class ships for the Royal Australian Navy. Curtiss-Wright Flow Control will perform the work at its facility in Ontario, Canada with initial deliveries scheduled to begin in late 2009. The total contract value, including all follow-on options, is expected to be in excess of $15 million. The contract contains an option for a fourth shipset of equipment with a potential award in 2009.
"Curtiss-Wright is very pleased to continue its support of the Australian Navy's aviation operations and to work with ASC on this exciting new ship program," said Martin R. Benante, CEO and Chairman of Curtiss-Wright Corporation. "The supply of these helicopter handling systems demonstrates our continuing engineering expertise in providing improved capability through innovative equipment designs and overall value through operational efficiency."
The ASIST system is a state-of-the-art deck handling solution for shipboard helicopter operations. It integrates the functions required for landing and on-deck operations to stow large ship-borne helicopters. Using the ASIST system, all deck handling operations can be accomplished without the need for personnel on the flight deck. The ASIST system enables safe helicopter handling day or night, even in adverse weather and sea conditions. The system will initially operate with the Australian Navy legacy S-70B helicopters and will be compatible with future helicopter designs.
The AWD program will provide the Royal Australian Navy with one of the world's most capable all-purpose warships. The three AWD Hobart Class ships will provide an advanced air defense system capable of engaging enemy aircraft and missiles at ranges in excess of 150km. The AWD ships will include a helicopter for surveillance and response to support key warfare areas as a part of their core capabilities.
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 metal treatment services. The firm employs approximately 7,900 people worldwide. For more information about Curtiss-Wright please visit www.curtisswright.com.
About Curtiss-Wright Flow Control
Curtiss-Wright Flow Control (CWFC) 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. CWFC's 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 approximately 3,200 employees worldwide and is the Flow Control operating segment of Curtiss-Wright Corporation. For more information please visit www.cwfc.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, current expectations, estimates and projections related to the value of this contract, the continued relationship with the customer, the successful implementation of this Australian Naval program, and the future opportunities associated with the program. Such statements 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 cancellation of the contract based on convenience; 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
Copyright (C) 2009 PR Newswire. All rights reserved