Curtiss-Wright Corporation today announced that its Defense Solutions division has received a contract from a leading international systems integrator to supply its modular and scalable electro-mechanical technology for use in a new ground combat vehicle program. Under the contract, shipments are scheduled to begin in 2016 and are expected to continue through 2019. The initial contract is valued at more than $90 million. The potential value of the contract over the lifetime of the program is estimated well in excess of $100 million.
“We are very proud that our industry-leading electro-mechanical motion control technology has been selected for use in this important new military ground vehicle program,” said Lynn Bamford, Senior Vice President and General Manager, Defense Solutions division. “This significant design win highlights the benefits of our modular and scalable approach, which was particularly applicable to the unique requirements of this program. Curtiss-Wright’s modular commercial-off-the-shelf (COTS) approach for electro-mechanical and electronics system architectures helps our customers reduce their design risks and eliminate costs.”
Manufacture of the products covered by this agreement will be overseen by Curtiss-Wright’s Defense Solutions facility located in Switzerland.
About Curtiss-Wright Corporation
Curtiss-Wright Corporation (curtisswright.com) is a global innovative company that delivers highly engineered, critical function products and services to the commercial, industrial, defense and energy markets. Building on the heritage of Glenn Curtiss and the Wright brothers, Curtiss-Wright has a long tradition of providing reliable solutions through trusted customer relationships. The company employs approximately 10,000 people worldwide.
Curtiss-Wright’s expectations of future performance and value of this contract, the continued relationship with a customer, the performance and capabilities of its products, the continued success of this military 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.