Curtiss-Wright Awarded Contract to Provide Actuation Technology Supporting Dynetics’ Enduring Shield Ground-Based Launcher System for the U.S. Army

Rhea-AI Summary

Curtiss-Wright Corporation (NYSE:CW) has secured a contract with Dynetics, a Leidos company, to provide support for the U.S. Army's Enduring Shield cruise missile defense platform. The contract involves designing and building electromechanical actuators for the initial 16 Dynetics launcher platforms, with an option to supply actuators for an additional 400 launchers. This collaboration underscores Curtiss-Wright's commitment to enhancing U.S. Army ground defense capabilities. The actuators will be manufactured at the company's Chanhassen, Minnesota facility, utilizing advanced Exlar roller screw and motor technologies.

Positive

• Awarded contract to support the U.S. Army's Enduring Shield platform with potential for additional orders.
• Demonstrates collaboration with a key defense contractor, enhancing business relationships.
• Actuators produced use advanced technologies, potentially increasing product demand in defense sectors.

Negative

• None.

DAVIDSON, N.C.--(BUSINESS WIRE)-- Curtiss-Wright Corporation (NYSE: CW) today announced that it has been awarded a contract to support the new Enduring Shield platform from Dynetics, a Leidos company, to meet the U.S. Army’s cruise missile defense needs. Under the contract, Curtiss-Wright will design and build electromechanical actuators for the first 16 Dynetics launcher platforms, with an option for 400 additional launchers with associated interceptors.

“Curtiss-Wright is very proud to have been chosen by Dynetics to provide our elevation and stabilization actuators in support of this critical U.S. Army missile defense system,” said Lynn M. Bamford, Chair and CEO of Curtiss-Wright Corporation. “Our collaboration with the U.S. Army to develop actuation technologies reflects Curtiss-Wright’s long-standing commitments and on-going support of the U.S. Army’s most critical ground defense platforms.”

“Curtiss-Wright has a long history of supporting the U.S. Army’s ground defense systems through their products,” said Leidos’ Dynetics Group President Steve Cook. “We know they’ll be a valuable part of our team, and we look forward to working with them on our Enduring Shield launchers.”

The U.S. Army Program Executive Office Missiles and Space awarded Dynetics the contract for the Indirect Fires Protection Capability (IFPC) program to produce its mobile ground-based weapon system. The system is designed to acquire, track, engage and defeat cruise missiles, rockets and unmanned aircraft system threats.

The actuators, produced at Curtiss-Wright’s Chanhassen, Minn. facility, incorporate the company’s Exlar® roller screw and motor technologies meeting rigorous environmental and performance criteria required by the U.S. Army. The technology has wide applications across the defense, commercial aerospace and industrial markets. For more information on Curtiss-Wright actuation products, visit www.cw-actuation.com.

About Curtiss-Wright Corporation

Curtiss-Wright Corporation (NYSE:CW) is a global integrated business that provides highly engineered products, solutions and services mainly to Aerospace & Defense markets, as well as critical technologies in demanding Commercial Power, Process and Industrial markets. We leverage a workforce of 8,000 highly skilled employees who develop, design and build what we believe are the best engineered solutions to the markets we serve. Building on the heritage of Glenn Curtiss and the Wright brothers, Curtiss-Wright has a long tradition of providing innovative solutions through trusted customer relationships. For more information, visit www.curtisswright.com.

Note: Trademarks are property of their respective owners.

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 a continued relationship with an existing customer, the continued funding and success of this ground defense program, the performance of its products in this program, and the potential value associated with this contract, 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 Exchange Act of 1934, as amended, for further information.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230201005947/en/

Jim Ryan

(704) 869-4621

jim.ryan@curtisswright.com

Source: Curtiss-Wright Corporation

FAQ

What contract did Curtiss-Wright Corporation secure on October 2023?

Curtiss-Wright Corporation secured a contract to support the U.S. Army's Enduring Shield platform by providing electromechanical actuators.

How many actuators will Curtiss-Wright design and build for Dynetics?

Curtiss-Wright will design and build actuators for the first 16 Dynetics launcher platforms, with an option for 400 additional launchers.

What technologies will be used in the actuators for the U.S. Army?

The actuators will incorporate Curtiss-Wright's Exlar roller screw and motor technologies.

What is the significance of the Enduring Shield platform for the U.S. Army?

The Enduring Shield platform is designed to defend against cruise missiles, rockets, and unmanned aircraft system threats.