FALLS CHURCH, Va., March 4, 2011 /PRNewswire/ -- Curtiss-Wright Flow Control Company announced today that it has been awarded a contract, that when fully funded, is expected to be in excess of $66 million to provide valves that meet the demanding needs for the next six U.S. Navy Virginia-Class submarine nuclear propulsion systems. The award from Bechtel Plant Machinery, Inc. (BPMI) is for an initial two ship-sets of Virginia-Class reactor plant valves, with options for another four ship-sets to be funded at two ship-sets per year in 2012 and 2013. The work will be performed at its Target Rock business unit in East Farmingdale, New York. Delivery of these components is scheduled for the 2012 through 2018 time frame.
"We are pleased and proud to have the opportunity to build on our long history as a significant supplier to the Virginia Class Submarine program," said David Linton, President of Curtiss-Wright Flow Control Company and Co-Chief Operating Officer of Curtiss-Wright Corporation. "This contract demonstrates that whenever excellence is needed for important applications related to our national defense, there's a Curtiss-Wright business unit ready to meet the challenge. And it underscores our core values and our brand promise to deliver highly engineered products of profound value to our customers."
For over 50 years, Curtiss-Wright has supplied technologically advanced products and services to the U.S. Navy, particularly for nuclear propulsion systems. Our innovative, high-performance products can be found aboard nuclear submarines and aircraft carriers owned by the U.S. Navy, ensuring safe, reliable operations. In addition, our technology advances, including more power-dense motors and enhanced valve designs, enable more efficient operations, increasing safety and reducing manpower and overall cost.
About Curtiss-Wright Flow Control
Curtiss-Wright Flow Control 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 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 3,400 employees worldwide. For more information, visit: www.cwfc.com.
About Target Rock
The Target Rock business unit designs and manufactures advanced flow controls for the demanding defense, commercial nuclear power and industrial applications, with a special focus on a wide range of valve technologies for nuclear safety-related applications. Located in Farmingdale, NY, it distinguishes itself with its innovative approaches to solving traditional flow control problems. These innovations not only advance the state-of-the-art but also provide real, practical solutions to customers' challenging problems. For more information, visit http://targetrock.cwfc.com/.
Curtiss-Wright Corporation (NYSE: CW) 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 7,600 people worldwide. For more information, visit 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. Such statements, including statements relating to Curtiss-Wright Corporation's expectations of future performance of our valve manufacturing capability, 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 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.
Sharon L. Dey
SOURCE Curtiss-Wright Flow Control Company