Curtiss-Wright Flow Control Company announced today that it has received a follow-on, multi-million dollar contract from Savunma Teknolojileri MÃ¼hendislik ve Ticaret A.S. ( “STM” Corporation) for the provision of the ASIST system and integrated track to be fitted on the second MiLGEM Corvette, TCG BÃ¼yÃ¼kada. Work for this contract will be performed at INDAL Technologies, a business unit of Curtiss-Wright Flow Control Company, based in Mississauga, Ontario, Canada, with initial deliveries scheduled to begin in late 2010.
“Curtiss-Wright is very pleased to continue its support of the Turkish Navy’s aviation operations and to continue our successful relationship with STM on this ship program,” said David Linton, President of Curtiss-Wright Flow Control Company and Co-Chief Operating Officer of Curtiss-Wright Corporation. “The supply of these helicopter handling systems demonstrates our ability to deliver highly engineered solutions to meet our customer’s mission-critical needs through innovative equipment designs and overall value.”
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 is designed to operate with the Turkish Navy S-70B helicopters.
MiLGEM is the first indigenous naval ship building project staged in Turkey. The Turkish Navy is responsible for the ship and system design and for the deriving the technical specifications of the weapon, sensor, machinery and other sub systems. The missions envisioned for the MiLGEM class Corvette are showing the flag, search/rescue, patrol, observation and anti submarine warfare.
About INDAL Technologies
With over 50 years experience, INDAL Technologies, a business unit of Curtiss-Wright Flow Control Company, is a world leader in the design and development of ship-borne helicopter handling systems, cable handling systems, specialized structures and other sophisticated systems for the U.S. and international navies. The company combines a high level of engineering and manufacturing capability, with expertise in the management of large and complex defense programs, to provide unique solutions and deliver profound value for its customers. Its industry leading manufacturing practices, adherence to ISO quality system requirements, program management and control systems ensure product excellence. INDAL Technologies is based in Mississauga, Ontario, Canada. For more information, visit: http://indaltech.cwfc.com/
About Curtiss-Wright Flow Control
Curtiss-Wright Flow Control Company 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. Its 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 more than 3,200 employees worldwide and is the Flow Control segment of Curtiss-Wright Corporation (NYSE:CW). For more information, visit cwfc.com.
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 metal treatment services. The firm employs approximately 7,900 people worldwide. More information on Curtiss-Wright can be found at www.curtisswright.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 for a certain defense contract with an existing customer. Such statements, including statements relating to Curtiss- Wright Corporation's expectations for future value of the contracts, the continued success of this defense program,continued funding dedicated to this government program, and opportunities associated with future add on contracts 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 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.
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