Curtiss-Wright Receives Contracts Valued at $120 Million to Support U.S. Navy’s Columbia-Class Submarine Program

Rhea-AI Summary

Curtiss-Wright Corporation (NYSE: CW) has secured contracts worth approximately $120 million to supply generators for the U.S. Navy’s Columbia-class submarine program, which is critical to national defense. The lead submarine is expected to be delivered in 2027. This contract reflects the company's continued commitment to the U.S. Navy, showcasing their expertise over 60 years in providing high-performance products for naval platforms. The work will be carried out at the company’s facility in Cheswick, Pennsylvania.

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• Awarded contracts valued at approximately $120 million.
• Significant contract for next-generation Columbia-class submarine, a top U.S. Navy priority.
• The company has over 60 years of experience with U.S. Navy products.

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• None.

DAVIDSON, N.C.--(BUSINESS WIRE)-- Curtiss-Wright Corporation (NYSE: CW) today announced that it has been awarded contracts valued at approximately $120 million when fully funded to provide generators for the U.S. Navy’s next-generation Columbia-class submarine.

“We are very proud to have been chosen by Northrop Grumman to provide generators for this significant U.S. nuclear naval defense platform,” said Lynn M. Bamford, President and CEO of Curtiss-Wright Corporation. “The Columbia-class ballistic missile submarine (SSBN) program is the U.S. Navy’s top priority to maintain the nation’s force structure, and Curtiss-Wright’s selection for this award reflects our long-standing commitment to and our ongoing support of the U.S. Navy’s most critical platforms.”

The Columbia-class submarine will replace the fleet of Ohio-class ballistic missile submarines. The lead ship is scheduled to be delivered to the Navy in 2027.

Curtiss-Wright is performing this work at its Cheswick, Pennsylvania facility within the Company’s Naval & Power Segment.

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. For more information on Curtiss-Wright’s Naval & Power Segment products for the U.S. Navy, please visit www.curtisswright.com/organization/naval-power.

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 Corporation's expectations of future performance of our generators, the continued relationship with an existing customer, the continued funding of this program by the U.S. Navy, the successful implementation of our products into this naval defense program, the overall success of this naval defense 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 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/20220906005669/en/

Jim Ryan

(704) 869-4621

jim.ryan@curtisswright.com

Source: Curtiss-Wright Corporation

FAQ

What is the value of the contracts awarded to Curtiss-Wright Corporation for the submarine program?

Curtiss-Wright Corporation has been awarded contracts valued at approximately $120 million for the U.S. Navy’s Columbia-class submarine.

When is the lead submarine of the Columbia-class program expected to be delivered?

The lead submarine of the Columbia-class program is scheduled to be delivered to the U.S. Navy in 2027.

Which company awarded the contracts to Curtiss-Wright Corporation for the submarine program?

The contracts were awarded by Northrop Grumman to Curtiss-Wright Corporation.

Where will Curtiss-Wright Corporation perform the work for the submarine contracts?

Curtiss-Wright Corporation will perform the work at its facility in Cheswick, Pennsylvania.

What is the significance of the Columbia-class submarine program for the U.S. Navy?

The Columbia-class submarine program is considered the U.S. Navy’s top priority for maintaining the nation’s force structure.