Curtiss-Wright Flow Control Receives Contract from Progress Energy

FALLS CHURCH, Va., July 21, 2011 /PRNewswire/ -- Curtiss-Wright Flow Control Company announced today that its business unit Scientech has signed a contract with Progress Energy to provide a safety-related Inadequate Core Cooling Mitigation System (ICCMS) to support the extended power uprate at the utility's Crystal River Unit 3 nuclear power plant in Florida.

The new protection system uses only analog technology to perform safety functions, while providing modern computer-based online performance monitoring through an isolated, non-safety monitor.  This combination of analog and digital technologies is designed to simplify the licensing process and reduce cyber-security concerns since no software is used to perform the safety-related functions of the system. The new system will be built at Scientech's Idaho Falls, ID, facility.

"Curtiss Wright sees this approach as providing a path forward for many operating nuclear plants," said David Linton, President, Curtiss-Wright Flow Control Company and Co-Chief Operating Officer, Curtiss-Wright Corporation. "The platform developed for the Crystal River ICCMS is the first analog solution in over 30 years.  The analog-safety related portion is fully testable, easily understood, and easily licensed.  Conversely, the digital non-safety portion provides state-of-the-art online performance monitoring and interface to digital systems without the need for testing or licensing."

About Curtiss-Wright Flow Control Company

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 3,400 employees worldwide and is the Flow Control segment of Curtiss-Wright Corporation.  For more information, visit: www.cwfc.com.

About Scientech

Scientech is a global provider of commercial nuclear power instrumentation, electrical components, specialty hardware, process control systems, and proprietary database solutions aimed at improving safety, plant performance and reliability as well as reducing costs.  Its Technical & Hardware Solutions Group provides instrumentation, electrical and mechanical hardware for nuclear and fossil plants to address obsolescence and improve efficiency and safety.  The Utility Services Group provides utilities with specialized analysis, technical consulting and engineering solutions to assist in modernizing plants, improving operating efficiency and responding to regulatory requirements. Scientech, a business unit of Curtiss-Wright Flow Control Company, is headquartered in Idaho Falls, ID.  For more information, visit http://scientech.cwfc.com.

About Progress Energy

Progress Energy (NYSE: PGN), headquartered in Raleigh, N.C. is a Fortune 500 energy company with more than 22,000 megawatts of generation capacity and approximately $10 billion in annual revenues. Progress Energy includes two major electric utilities that serve about three million customers in the Carolinas and Florida. The company has earned the Edison Electric Institute's Edison Award, the industry's highest honor, in recognition of its operational excellence, and was the first utility to receive the prestigious J.D. Power and Associates Founder's Award for customer service. The company is pursuing a balanced strategy for a secure energy future, which includes aggressive energy-efficiency programs, investments in renewable energy technologies and a state-of-the-art electricity system. Progress Energy celebrated a century of service in 2008. Visit the company's website at http://www.progress-energy.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 performance of our products, the continued relationship with a customer, the successful implementation and funding of this commercial energy 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 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:
Sharon Dey
[email protected]
(703) 286-2011

Robert Queenan
Scientech
[email protected]
(208) 524-9311

SOURCE Curtiss-Wright Flow Control Company