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Curtiss-Wright Congratulates Pilatus Aircraft Ltd on the First Flight of the PC-24 Super Versatile Jet

CHARLOTTE, N.C., May 11, 2015 (GLOBE NEWSWIRE) -- Curtiss-Wright Corporation (NYSE:CW) today offers its congratulations to the Pilatus team on a successful first flight of their new twin-engine PC-24 business jet. The PC-24 achieved a major milestone in its development on May 11, 2015 with its successful first flight in Stans, Switzerland. Curtiss-Wright's Sensors & Controls division has been under contract from Pilatus Aircraft Ltd to design, develop and produce the Electro-Mechanical (EM) Spoiler and Flap Actuation System, as well as the Hydraulic Power Generation System, for use on the PC-24. The estimated value of the contracts over the lifetime of the program is approximately $85 million.

"On behalf of Curtiss-Wright and our entire team, I would like to congratulate Pilatus on a successful first flight of the PC-24 aircraft." said David C. Adams, Chairman and CEO of Curtiss-Wright Corporation. "We are very proud and excited to be partnered with Pilatus to provide such innovative technologies to its transformative PC-24 program. We believe that this will be the start of a long and successful relationship with Pilatus, while furthering our strategy to be a preferred provider of innovative aircraft sensing and control equipment."

Electro-Mechanical Spoiler and Flap Actuation Systems

The EM Spoiler and Flap Actuation Systems consist of electro-mechanical actuators and power and control electronics used to position the spoilers and flaps in response to pilot and flight control computer input. The new EM technology provides improved aircraft performance, higher system reliability, reduced overall system weight and lower maintenance costs compared to traditional hydraulic systems. Curtiss-Wright will be providing Pilatus with system components and complete subsystem integration services. The electro-mechanical actuation component and subsystem development and manufacturing is being performed at Curtiss-Wright's Actuation Systems business unit located in Gastonia and Shelby, N.C.

Hydraulic Power Generation Systems

The hydraulic power generation system is designed to supply the pressure and flow required for main brake, anti-skid, emergency brake and parking brake operations. Under the contract, Curtiss-Wright will be providing Pilatus with the design, development, qualification and production of the system components. The component and sub-system development and manufacturing is being performed at Curtiss-Wright's Sensors business unit located in Gilbert, AZ.

About Curtiss-Wright Corporation

Curtiss-Wright Corporation (NYSE:CW) 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 9,000 people worldwide. For more information, visit www.curtisswright.com.

About Pilatus Aircraft Ltd

Founded in 1939, Pilatus is the only Swiss company to develop, produce and sell aircraft to customers around the world: from the legendary Pilatus Porter PC-6 to the best-selling PC-12, a single-engine turboprop, and the PC-21, the training system of the future. Pilatus is currently developing the PC-24 – the world's first ever business jet for use on short unprepared runways.

www.pilatus-aircraft.com

Curtiss-Wright's expectations of future performance of this contract, the continued relationship with a customer, the performance and capabilities of its products, the continued success of this commercial aircraft program and the future opportunities associated with this commercial aircraft 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.

CONTACT: Jim Ryan 973-541-3766 jim.ryan@curtisswright.com

Source:Curtiss-Wright Corporation