Curtiss-Wright Awarded Contract From Lockheed Martin
For Delivery of Turret Drive Servo System for the Scout Specialist Vehicle Programme
PARSIPPANY, N.J., May 4, 2011 (GLOBE NEWSWIRE) -- Curtiss-Wright Corporation (NYSE:CW) today announced that it has received a contract from Lockheed Martin to provide the turret drive servo system for use in the United Kingdom's new Scout reconnaissance vehicle. Curtiss-Wright's turret drive servo system provides weapon stabilization for tracked combat vehicles.
"Curtiss-Wright is a leader in the design and development of rugged drive systems for military vehicles," said Martin R. Benante, Chairman and CEO of Curtiss-Wright Corporation. "We are proud to participate in this important new program for the U.K.'s Ministry of Defence."
Curtiss-Wright will design, develop and manufacture the turret drive servo system at the company's Motion Control facility in Neuhausen, Switzerland. The contract, which is for the demonstration phase of the program with an option for production deliveries, continues through December 2013.
The Scout vehicle is a new medium-weight armored reconnaissance ground vehicle designed for deployment on rapid intervention, enduring peacekeeping and peace enforcement operations and for support to high intensity, major combat operations. Lockheed Martin U.K. has been awarded the contract from General Dynamics U.K. to deliver the turret for the Scout reconnaissance vehicle, which will replace the British Army's Scimitar vehicle.
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 www.curtisswright.com.
The Curtiss-Wright Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7709
About Curtiss-Wright Controls, Inc.
Headquartered in Charlotte, NC, 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 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 products, 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 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.
CONTACT: Jim Ryan
Source: Curtiss-Wright Corporation
News Provided by Acquire Media