Motion Control Resources
Curtiss-Wright Awarded Multi-Million Dollar Contract for Italian Frigate Program
Award for Supply of Twin Claw-ASIST Helicopter Handling Systems ROSELAND, N.J., June 4
ROSELAND, N.J., June 4 /PRNewswire-FirstCall/ -- Curtiss-Wright Corporation (NYSE: CW) today announced that it has received a multi-million dollar contract from Fincantieri S.p.A for the supply of TC-ASIST helicopter handling systems for the first two ships of the FREMM frigate program. The contract also contains options for the remaining eight ships planned in the class for the Italian Navy.
"Curtiss-Wright is pleased to continue its work with Fincantieri and the Italian Navy, and to be a part of this exciting new ship program," said Martin R. Benante, Chairman and Chief Executive Officer of Curtiss-Wright Corporation. "The supply of the TC-ASIST Helicopter Handling System demonstrates our continuing engineering expertise in providing improved capability from innovative equipment designs, and overall value through operational efficiency."
Curtiss-Wright's Motion Control segment will supply the TC-ASIST systems and will perform work for this contract at its facility in Mississauga, Ontario, Canada, with deliveries scheduled to begin in late 2009. With over 40 years of experience, Curtiss-Wright is a leader in designing and manufacturing ship-borne aircraft handling systems, underwater sensor handling systems and specialized structures for military customers.
The TC-ASIST (Twin Claw-Aircraft Ship Integrated Secure and Traverse) system is a variant of the well-established ASIST helicopter handling system. It allows integration of the ASIST shipboard helicopter handling concept without structural modifications to the existing Italian helicopter fleet. The Italian Horizon class frigate utilizes a similar system to provide superior operating capability with both EH-101 and NH-90 helicopters.
The FREMM frigate is a joint Italian/French program with a fleet of 27 ships planned in all. The multi-function frigate is being designed to incorporate the latest advancements in shipboard mission systems.
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 specialized metal treatment services. The firm employs approximately 7,600 people worldwide.
About Curtiss-Wright Controls
Headquartered in Charlotte, N.C., Curtiss-Wright Controls is the motion control segment of Curtiss-Wright Corporation. With manufacturing facilities around the world, Curtiss-Wright Controls is a leading technology-based organization providing niche motion control products, subsystems and services for the aerospace, defense, naval and industrial markets.
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's expectations of value of the contract, future performance of our development work, the continued relationship with an existing customer, the successful implementation of this government program, the continued political support for this military program by a foreign government, the continued foreign government spending in support of this program, and the 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 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.
SOURCE Curtiss-Wright Corporation