ROSELAND, N.J., Jan 14, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- Curtiss-Wright Corporation (NYSE: CW) announced today that its Metal Treatment segment has been awarded a contract from The Boeing Company to establish a laser peen forming production cell inside of Boeing's Frederickson, Washington facility. The laser peening cell is planned to be in production during the second quarter of 2008 and would initially be utilized for shaping the complex curvatures of some of the wing sections of the new Boeing 747-8.
Curtiss-Wright's laser peening technology is based on a Neodymium glass laser technology, which was originally developed at the Lawrence Livermore National Laboratory. It has the ability to impart deep compressive stresses on the surface of metal parts, which can then be used to precisely form metal panels into their desired shape. Curtiss-Wright's Metal Treatment segment operates laser peening facilities in Livermore, CA and Earby, UK, and also has mobile laser peening systems with the capability to go on-site anywhere in the world.
"We are very pleased to be providing Boeing with our state-of-the-art laser peen technology for their most advanced aircraft design," said Martin R. Benante, Chairman and CEO of Curtiss-Wright. "This award is a significant milestone in bringing our proprietary laser peening technology to the market. A number of industry leaders, such as Rolls Royce and Siemens have also recognized the benefits of this process and we see a strong outlook for additional production orders."
The Boeing 747-8 Intercontinental and 747-8 Freighter are new high- capacity aircraft based on Boeing's proven 747 family. The 747-8 offers the advantage of improved aerodynamics and reduced operating costs over current 747-400.
Curtiss-Wright Corporation is a diversified company headquartered in Roseland, N.J. The company designs, manufactures and overhauls products for motion control and flow control applications, and provides a variety of metal treatment services. The firm employs approximately 7,300 people worldwide. More information on Curtiss-Wright can be found at www.curtisswright.com.
About Curtiss-Wright Metal Treatment
Curtiss-Wright's Metal Treatment segment provides precision metal finishing services, including shot peening, shot peen forming, laser peening, heat treating, specialty coatings, reed valve manufacturing and wet finishing. Its customer base includes the commercial aerospace, automotive, power generation and processing industries. The Company operates 61 metal treatment facilities in North America and Europe. More information on Curtiss-Wright's Metal Treatment segment can be found on the Internet at www.metalimprovement.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. Such statements, including statements relating to Curtiss-Wright Corporation's expectations for future financial performance, 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 and Exchange Act of 1934, as amended, for further information.
This press release and additional information is available at www.curtisswright.com.
SOURCE Curtiss-Wright Corporation
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