PARSIPPANY, N.J., Oct 25, 2010 (GlobeNewswire via COMTEX News Network) -- Curtiss-Wright Corporation (NYSE:CW) today announced that it has received a contract from American Eurocopter Corporation, an operating unit of EADS North America, to provide its Video Management System (VMS) for the U.S. Army's UH-72A Lakota Light Utility Helicopter (LUH) Security & Support (S&S) Battalion Mission equipment Package. The estimated value of the contract is $20 million based upon projected helicopter production and deliveries over the next five years.
"Curtiss-Wright provides hardware and components deployed on almost every major U.S. Army helicopter platform. We are proud to continue that support by partnering with EADS North America and American Eurocopter to deliver the advanced high definition, multi-screen aerial surveillance capability provided by the Skyquest VMS system," said Martin R. Benante, Chairman and CEO of Curtiss-Wright Corporation.
Curtiss-Wright will provide American Eurocopter with its advanced airborne surveillance system, which is designed, developed and manufactured at the company's Motion Control segment facility in East London, UK. American Eurocopter will integrate the Skyquest VMS system onto the S&S Battalion-configured Lakota helicopters. The contract will continue through 2015. EADS North America has 187 Lakota helicopters on order from the Army, with potential for up to 345 helicopters through 2015.
Each Lakota LUH fitted with the S&S Battalion Mission Equipment Package will utilize three multi-function mission displays, a dual-deck digital video recorder and the VMS processor. The Skyquest VMS delivers extensive video capability and flexibility to aircrews across a variety of missions. It provides comprehensive management of video on board the aircraft and enables operators to enhance use of their gyro-stabilized camera system while viewing multiple video sources simultaneously. Skyquest's surveillance system also provides previously unavailable video switching, recording and transmitting capabilities.
Leading law enforcement and military customers in several countries throughout the world field the Skyquest VMS currently, including the UK Ministry of Defence and most UK law enforcement operators. The equipment has proven to be well suited for demanding airborne surveillance missions and reliable in harsh environments.
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 www.curtisswright.com.
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About Curtiss-Wright Controls, Inc.
Headquartered in Charlotte, NC, Curtiss-Wright Controls is the Motion Control segment of Curtiss-Wright Corporation, and a leading designer and manufacturer of advanced technologies for niche actuation and drive applications, integrated sensors and electronic subsystems internationally for the aerospace and defense 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 future performance of our development work, the value of the contract, the continued relationship with an existing customer, the successful implementation and funding of this 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 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.
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SOURCE: Curtiss-Wright Corporation
CONTACT: Curtiss-Wright Corporation Glenn Tynan (973) 541-3710
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