CHARLOTTE, N.C., Aug. 4, 2015 (GLOBE NEWSWIRE) -- Curtiss-Wright Corporation (NYSE:CW) today announced that it has received an initial contract to supply elevation and hatch control electromechanical actuators for use on the U.S. Army Multi-Mission Launcher (MML) in support of the Indirect Fire Protection Capability (IFPC) program. Under the agreement, Curtiss-Wright will provide modified solutions based on its Exlar® electromechanical actuation technologies, as well as hatch actuation controls and engineering services. The actuation systems will be modified Commercial-Off-The-Shelf (M-COTS) solutions in-line with the Army Aviation and Missile Research, Development and Engineering Center's (AMRDEC) requirement for open system architecture. The estimated potential contract value over the life of the program is approximately $75 million.
"Curtiss-Wright has a proven record of developing and delivering state-of-the art solutions, providing advanced technology and high reliability to support the needs of our military customers," said David C. Adams, Chairman and CEO of Curtiss-Wright Corporation. "Our ability to support AMRDEC's rapid development and prototyping approach on the MML program, along with our unique product and service capabilities, is key to our success. We look forward to working with the U.S. Army on this important program."
The MML is a next generation air defense launcher built on open system architecture and will have the capability to launch a variety of interceptors for comprehensive air defense against a variety of unmanned and cruise missile threats. AMRDEC is the lead developer on the MML program. The Curtiss-Wright Sensors & Controls division facility in Chanhassen, MN is performing the work under these contracts.
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.
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's expectations of future performance of this contract, the value of the contract, the continued relationship with a customer, the continued success of the MML program and the future opportunities associated with the MML 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.
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