Curtiss-Wright Corporation (NYSE: CW) today announced it has been awarded a 5-year firm-fixed-price indefinite delivery, indefinite quantity (IDIQ) contract by the Naval Air Systems Command (NAVAIR). Under the multi-year program, with a maximum potential value of approximately $28 million, Curtiss-Wright will provide E-28 Retrieve Drive Assemblies including spare parts supporting the replacement of the legacy sub-systems across U.S. Navy and Marine Corps bases.
“As a leading global supplier of military aircraft arresting systems equipment, Curtiss-Wright is excited to work with NAVAIR on this important emergency arresting system program upgrade,” said Lynn M. Bamford, Chair and CEO of Curtiss-Wright Corporation. “We look forward to future opportunities to provide our proven and reliable solutions in support of flight safety and fleet readiness.”
The E-28 Arresting Gear System is the approved shore-based emergency system currently operated by the Navy and Marine Corps expeditionary airfield stations worldwide. Under the contract, Curtiss-Wright will provide a solution for replacement and retrofit of Retrieve Drive Assemblies on existing E-28 systems.
Curtiss-Wright is performing the work within its EMS Division in the Naval & Power segment, and will deliver assemblies to NAVAIR’s Naval Air Warfare Center Aircraft Division in Lakehurst, N.J. 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 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 approximately 8,100 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 our U.S. Navy customer, 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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