ROSELAND, N.J., Sept. 5 /PRNewswire-FirstCall/ -- Korea Aerospace
Industries, Ltd. has awarded Curtiss-Wright Corporation (NYSE: CW) a contract
to provide an electronics package that will provide protection against ice
build-up on the engine air inlets, windshield and main and tail rotor blades
on a new utility helicopter. The contract has a potential value in excess of
$18 million over a 12-year period.
"Curtiss-Wright is very pleased to supply this vital technology to ensure
safe helicopter flight during severe weather conditions," said Martin R.
Benante, Chairman and Chief Executive Officer of Curtiss-Wright. "These
products and systems provide industry-leading technology for enabling
rotorcraft flight in known icy conditions."
Helicopters often need to be grounded to avoid ice build-up on rotor
blades, which creates unstable flight operations. Curtiss-Wright's proven
technology in electronic ice protection for rotorcraft includes the Rotor Ice
Protection System (RIPS) as well as windshield and engine ice protection
controllers. These products monitor and prevent ice from forming on all rotor
blades, on the windshield and on the air intake to the engines.
Curtiss-Wright is a leading supplier of aircraft fire- and ice-protection
systems. The company's Motion Control facility in City of Industry, CA will
supply the products for this contract. Delivery will begin in early 2009 in
support of qualification trials for the Korea Aerospace Industries aircraft.
Korea Aerospace Industries is the prime contractor of Korean
government-initiated aerospace programs and is funded by the Korean government
as the largest stockholder.
About Curtiss-Wright
Curtiss-Wright Corporation is a diversified company headquartered in
Roseland, N.J. The company designs, manufactures and overhauls products for
motion control and flow control applications, and provides metal treatment
services. The firm employs approximately 7,600 people worldwide. More
information on Curtiss-Wright can be found on the Internet at
www.curtisswright.com.
About Curtiss-Wright Controls, Inc.
Headquartered in Charlotte, North Carolina, Curtiss-Wright Controls is the
Motion Control segment of Curtiss-Wright Corporation. With manufacturing
facilities around the world, Curtiss-Wright Controls is a leading
technology-based organization providing niche motion control products,
subsystems and services internationally for the aerospace and defense markets.
For more information, visit www.cwcontrols.com.
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 the potential duration and value of this
contract, the continued relationship with an existing customer, the successful
implementation of this new utility helicopter program and future opportunities
associated with this contract, 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 and Exchange Act of 1934, as amended,
for further information.
SOURCE Curtiss-Wright Corporation
