Curtiss-Wright Contact: Williams Controls Contact: Jim Ryan Dennis Bunday (973) 541-3766 (503) 684-8600
CURTISS-WRIGHT ANNOUNCES DEFINITIVE MERGER AGREEMENT WITH WILLIAMS CONTROLS Leading Provider of Highly-Engineered Electronic Sensors and Throttle Controls for Vehicles in Industrial and Military Markets to be Acquired by Innovative Engineering Company PARSIPPANY, N.J., PORTLAND, OR. - November 1, 2012 - Curtiss-Wright Corporation (NYSE: CW) and Williams Controls (NYSE: WMCO) jointly announced today that they have entered into a definitive agreement that provides for the merger of Williams Controls with a wholly-owned subsidiary of Curtiss-Wright. Williams Controls is a leading designer and manufacturer of highly-engineered electronic sensors and electronic throttle controls for off-road equipment, heavy trucks, and military vehicles. The acquired business will operate within Curtiss-Wright's Motion Control segment.
"The acquisition of Williams Controls, which will
closely follow our acquisition of PG Drives, will strengthen
and expand Curtiss-Wright's existing industrial controls
business and is another step toward our vision to be the
supplier of choice for driver control subsystems in specialty
vehicles," said Martin R. Benante, Chairman and CEO,
Curtiss-Wright Corporation. "For over 75 years, Williams
Controls has been a leading designer and manufacturer of
critical vehicle controls technology and brings unmatched
expertise, experience and long-standing customer
relationships to Curtiss-Wright."
Patrick W. Cavanagh, Williams Controls' President and Chief
Executive Officer, said, "This transaction enables Williams
Controls to achieve its strategic vision while returning
significant value to our stockholders. By combining Williams
Controls' global leadership in electronic throttle controls
with Curtiss-Wright's Motion Control segment, we can more
quickly expand our pedal systems, sensors and joysticks to
become a solutions supplier to all of our customers in the
commercial truck and off-road markets." Mr. Cavanagh
continued, "Williams Controls' commitment to our employees,
customers and local communities remains unchanged. We
expect all of our stakeholders to benefit from being part of
a larger and more diverse company
Curtiss-Wright Corporation Williams Controls
10 Waterview Boulevard, Parsippany, NJ 07054 14100 SW 72nd Avenue, Portland, OR 97224
(973) 541-3700