Curtiss-Wright Corporation (NYSE: CW) today announced that it has been awarded a 10-year contract by the French Air and Space Force (AAE) to support its aircraft arresting systems. Under the contract, valued at approximately $35 million, Curtiss-Wright will provide logistics, analysis, maintenance, repair and overhaul (MRO) of specialized arresting systems equipment.
“As a leading global supplier of military aircraft arresting systems and support capabilities, Curtiss-Wright is pleased to have the opportunity to build upon our existing relationship with the French Air and Space Force to provide aftermarket and logistical services to support the availability and longevity of its arresting capability,” said Lynn M. Bamford, Chair and CEO of Curtiss-Wright Corporation. “In addition, this contract aligns with our strategy to continue to provide more turn-key arresting and safety solutions to our defense customers.”
The contract is part of a verticalization initiative for defense contracts by the French government, which results in a preference of a single point of contact for the same equipment. Curtiss-Wright thus now has the opportunity to work directly with the French government to provide a next level of integrated services and products.
Curtiss-Wright is performing the work at its Curtiss-Wright Arresting Systems facility in Merpins, France, part of its EMS division in the Naval & Power segment. Following the 2022 acquisition of the aerospace arresting systems business, and through its Merpins, France and Aston, PA facilities, Curtiss-Wright’s diverse arresting systems product portfolio includes energy absorbers, retractable hook cable systems, net-stanchion systems and mobile systems to support aircraft carrier and fixed land-based arresting systems. In addition, our aftermarket business supports a strong, global installed base of more than 5,000 systems in over 72 countries. For more information on Curtiss-Wright’s EMS division products, please visit http://www.cw-ems.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.
This press release contains forward-looking statements made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995 that are based on management's beliefs and assumptions. Such statements, including statements relating to Curtiss-Wright Corporation's expectations of future performance of our arresting systems products, additional contracts with the French Government, the successful implementation of our products, the overall success of these defense programs and future opportunities associated with the installed base of 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 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.
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