Curtiss-Wright Awarded Contracts Valued in Excess of $250 Million to Support Critical U.S. Naval Defense Platforms

Rhea-AI Summary

Curtiss-Wright Corporation (NYSE: CW) has been awarded contracts worth over $250 million to provide propulsion valves, pumps, and advanced instrumentation and control systems for the U.S. Navy's Virginia-class nuclear powered attack submarine, Columbia-class submarine, and Ford-class aircraft carrier programs. The contracts were received from Bechtel Plant Machinery, Inc. (BPMI) and General Dynamics Electric Boat to support ship construction, spare parts, and submarine back-fit procurements. The company's long-standing relationship with the U.S. Nuclear Navy and strong Congressional support reflect its ongoing commitment to critical naval defense platforms. Curtiss-Wright's work will continue through 2028, with a focus on delivering advanced, reliable, and vital technologies for the U.S. naval fleet.

Positive

• The contracts valued at over $250 million demonstrate Curtiss-Wright's strong position in the naval defense market.
• Curtiss-Wright's innovative technologies enable more efficient operations, reduce manpower and cost, and increase safety for the U.S. Navy's nuclear submarines and aircraft carriers.

Negative

• None.

DAVIDSON, N.C.--(BUSINESS WIRE)-- Curtiss-Wright Corporation (NYSE: CW) today announced that it has been awarded contracts valued in excess of $250 million to provide propulsion valves, pumps and advanced instrumentation and control systems for the U.S. Navy’s Virginia-class nuclear powered attack submarine, Columbia-class submarine and Ford-class aircraft carrier programs. The awards were received from Bechtel Plant Machinery, Inc. (BPMI) and General Dynamics Electric Boat to support ship construction, spare parts and submarine back-fit procurements.

“Curtiss-Wright is pleased to have been awarded these important naval defense contracts, building upon our long-standing relationship with the U.S. Nuclear Navy and reflecting our ongoing support of these critical naval defense platforms, which continue to receive strong Congressional support,” said Lynn M. Bamford, Chair and CEO of Curtiss-Wright Corporation. “We look forward to delivering the most advanced, reliable and vital technologies and remain well-positioned to benefit from the continued expansion of our U.S. naval fleet.”

Curtiss-Wright is performing this work at its facilities in New York and Pennsylvania within the Company’s Defense Electronics and Naval & Power Segments. Engineering and manufacturing have commenced and will continue through 2028.

For over 60 years, Curtiss-Wright has ensured safe, reliable operations by supplying innovative, high-performance products for every nuclear submarine and aircraft carrier commissioned by the U.S. Navy. In addition, Curtiss-Wright technologies, such as power-dense motors and enhanced valve designs, enable more efficient operations, reduce manpower and cost, and increase safety. For more information on Curtiss-Wright’s Defense Electronics Segment and Naval & Power Segment products for the U.S. Navy, please visit www.cwdefense.com or www.curtisswright.com/organization/naval-power/, respectively.

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 approximately 8,400 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.

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 pump and valve products, the continued relationship with an existing customer, the continued funding of these programs by the U.S. Navy, the successful implementation of our products into these naval defense programs, the overall success of these naval defense programs and future opportunities associated with these programs, 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/20230731350762/en/

Jim Ryan

(704) 869-4621

jim.ryan@curtisswright.com

Source: Curtiss-Wright Corporation

FAQ

What contracts has Curtiss-Wright Corporation been awarded?

Curtiss-Wright Corporation has been awarded contracts valued in excess of $250 million to provide propulsion valves, pumps, and advanced instrumentation and control systems for the U.S. Navy's Virginia-class nuclear powered attack submarine, Columbia-class submarine, and Ford-class aircraft carrier programs.

Who awarded the contracts to Curtiss-Wright Corporation?

The contracts were received from Bechtel Plant Machinery, Inc. (BPMI) and General Dynamics Electric Boat to support ship construction, spare parts, and submarine back-fit procurements.

What is the focus of Curtiss-Wright's work related to the contracts?

Curtiss-Wright's work will continue through 2028, with a focus on delivering advanced, reliable, and vital technologies for the U.S. naval fleet.