Curtiss-Wright Selected by Progeny to Provide Modular Open Systems Approach-Based Electronics for U.S. Navy Torpedo Upgrade Programs

Rhea-AI Summary

Curtiss-Wright Corporation (NYSE: CW) has been selected by Progeny to deliver Modular Open System Approach (MOSA) computers and digital processing modules for the U.S. Navy's MK54 and MK48 torpedo upgrade programs. This contract is valued at $70 million and showcases Curtiss-Wright's leadership in rugged commercial-off-the-shelf (COTS) technologies. The modules are being shipped to facilities in Manassas, Virginia and Charleroi, Pennsylvania. The company emphasizes the rapid and cost-effective modernization of military platforms through open-standards solutions.

Positive

• Secured $70 million contract with Progeny for MOSA computers and digital modules.
• Demonstrates technology leadership in rugged COTS solutions for military applications.

Negative

• None.

Rugged single board computer and digital signal processor modules to support the Navy’s MK54 and MK48 torpedo upgrades

DAVIDSON, N.C.--(BUSINESS WIRE)-- Curtiss-Wright Corporation (NYSE: CW) today announced that it was selected by Progeny to provide Modular Open System Approach (MOSA) computers and digital processing modules for use in the U.S. Navy’s MK54 and MK48 torpedo upgrade programs. The contract has an estimated lifetime value of $70 million.

“We are very proud to have been selected by Progeny to provide our rugged commercial-off-the-shelf (COTS) technologies to support the upgrade of the U.S. Navy’s MK54 and MK48 torpedoes,” said Lynn M. Bamford, President and CEO of Curtiss-Wright Corporation. “Curtiss-Wright’s selection on this upgrade program is another recent example of how our technology leadership in MOSA-based rugged COTS modules is helping to modernize military platforms rapidly and cost-effectively with open-standards solutions.”

The processor modules covered by this agreement are being shipped to Progeny in Manassas, Virginia and Charleroi, Pennsylvania.

For additional information about Curtiss-Wright MOSA technologies, please visit www.curtisswrightds.com, LinkedIn, and Twitter @CurtissWrightDS.

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 7,800 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 program, the performance of its products in 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 Exchange Act of 1934, as amended, for further information.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220420005586/en/

Jim Ryan

(704) 869-4621

jim.ryan@curtisswright.com

Source: Curtiss-Wright Corporation

FAQ

What is the value of the contract awarded to Curtiss-Wright by Progeny?

The contract is valued at $70 million.

Which programs will Curtiss-Wright's technology support for the U.S. Navy?

Curtiss-Wright will support the MK54 and MK48 torpedo upgrade programs.

What type of technology is Curtiss-Wright providing to the U.S. Navy?

Curtiss-Wright is providing Modular Open System Approach (MOSA) computers and digital processing modules.

Where are the processor modules being shipped from Curtiss-Wright?

The modules are being shipped to Progeny in Manassas, Virginia, and Charleroi, Pennsylvania.

What does the selection of Curtiss-Wright by Progeny indicate about the company's market position?

It indicates Curtiss-Wright's leadership in providing rugged commercial-off-the-shelf (COTS) technologies for military applications.