Curtiss-Wright Wins Contract – GuruFocus.com


Curtiss-Wright Corporation (NYSE: CW) today announced that it has been selected by Global Air Navigation Services (GANS), a leading provider of specialty air navigation, engineering and technical services and consultancy in the field of air navigation, to supply aircraft arresting systems to the Ministry of Defense of the United Arab Emirates. Under the contract, valued at approximately $19 million, Curtiss-Wright will provide specialized arresting systems supporting tailhook-equipped and non-tailhook-equipped aircraft.

“As a leading global supplier of military aircraft arresting systems, Curtiss-Wright is proud to have been selected to provide our proven arresting solutions to the United Arab Emirates, significantly improving the safety and security of aircraft. operations of its airbase,” said Lynn M. Bamford, president. and CEO of Curtiss-Wright Corporation. “Additionally, we are thrilled to announce that we will be providing essential content from our newly acquired US and French facilities which have over 60 years of shutdown systems experience. We look forward to providing unparalleled support in the execution of this very important contract and to continue to strengthen our relationship with Global Air Navigation Services and the United Arab Emirates to meet the continued security needs of air bases.

Curtiss-Wright performs the work within its EMS division in the Naval & Power segment. Products covered by this agreement will be shipped to GANS from the Curtiss-Wright Engineered Arresting Systems – ESCO factory in Aston, Pennsylvania, including components from the Curtiss-Wright Arresting Systems factory in Merpins, France.

Following the recent acquisition of the aerospace arresting systems business, Curtiss-Wright’s diverse arresting systems product portfolio includes energy absorbers, retractable hook-and-loop systems, net and mobile systems to support aircraft carriers and fixed ground arrest systems. Additionally, our aftermarket business supports a strong global installed base of over 5,000 systems worldwide.

For more information on Curtiss-Wright’s EMS division products, please visit http%3A%2F%2Fwww.cw-ems.com%2F.

About Curtiss-Wright Corporation

Curtiss-Wright Company (NYSE: C.W., Financial) is an integrated global company that provides highly technical products, solutions and services primarily to the aerospace and defense markets, as well as mission-critical technologies to the demanding commercial energy, process and industry. We rely on a workforce of 8,000 highly skilled employees who develop, design and build what we believe to be the best engineered solutions for the markets we serve. Building on the heritage of Glenn Curtiss and the Wright Brothers, Curtiss-Wright has a long tradition of delivering innovative solutions through trusted customer relationships. 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 which are based on the beliefs and assumptions of management. These statements, including statements relating to Curtiss-Wright Corporation’s expectations regarding the future performance of our arresting systems products, the continued funding of these programs, the successful implementation of our products at these airbases, the success overview of these defense programs and future opportunities associated with these programs are not considered historical facts and are considered forward-looking statements under federal securities laws. These 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. These risks and uncertainties include, but are not limited to: a reduction in advance orders; an economic downturn; changes in competitive market and/or customer requirements; a change in US government spending; an inability to perform customer contracts at expected cost levels; and other factors that generally affect the business of aerospace, defense, marine, electronics and industrial companies. Please refer to the Company’s current filings with the SEC under the Securities Exchange Act of 1934, as amended, for more information.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20221102005431/en/

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