PARSIPPANY, N.J., March 25, 2013 (GLOBE NEWSWIRE) -- Curtiss-Wright Corporation (NYSE:CW) today announced the receipt of a contract from Northrop Grumman to provide open architecture mission computer and network switch subsystems for use in the U.S. Army's new Ground Combat Vehicle (GCV) Infantry Fighting Vehicle. The initial value of the contract is $2.5 million. The contract has a total potential value in excess of $250 million over the lifetime of the production phase of the program, which is expected to begin in 2018.
Under the terms of the contract, shipments began in the first quarter of 2012 and are scheduled to continue throughout the remainder of this year. The BAE Systems-Northrop Grumman team is one of two industry teams working under technology development contracts for the GCV program.
"We are very excited to support the innovative Ground Combat Vehicle program with our rugged mission computer and networking technology," said Martin R. Benante, Chairman and CEO of Curtiss-Wright Corporation. "We are proud to partner with Northrop Grumman in support of BAE Systems on this important program. This is Curtiss-Wright's first contract on the U.S. Army's next generation hybrid electric drive powered ground vehicle and it provides a clear indication of the value of our industry-leading technology."
Curtiss-Wright's mission computer utilizes four commercial off-the-shelf (COTS) single board computers in a rugged chassis. The chassis is able to cool in excess of 250 watts of heat without the use of fans, liquid cooling, or conditioned base plate, making this an ideal thermal solution for ground vehicles. The Company's low-cost, rugged network switch provides a network for communications between the mission computer and other devices within the vehicle. Curtiss-Wright utilized its component packaging and thermal dissipation expertise to fully ruggedize its products for optimal performance.
The Curtiss-Wright facility located in Santa Clarita, Calif., is manufacturing the products covered by this agreement and shipping them to Northrop Grumman in Huntsville, Ala.
The BAE Systems–Northrop Grumman GCV Infantry Fighting Vehicle design modernizes the U.S. Army's ground combat vehicle fleet with a new hybrid electric drive propulsion system that enables force protection and mobility, while allowing for future growth in power requirements and new technologies. The vehicle employs customizable combinations of armor packages on a tough, space efficient steel core hull and features improved fuel efficiency, agility and acceleration due to the electric drive. The GCV accommodates up-to-date network capability via a proven open architecture Command, Control, Communications, Computers, Intelligence, Surveillance, and Reconnaissance (C4ISR) and infrastructure system.
About Curtiss-Wright Corporation
Curtiss-Wright Corporation is an innovative engineering company that provides highly engineered, critical function products, systems and services in the areas of flow control, motion control and surface treatment technologies to the defense, energy and commercial/industrial markets. The legacy company of Glenn Curtiss and the Wright brothers, Curtiss-Wright has a long tradition of design and manufacturing innovation and prides itself on long-standing customer relationships. The company employs approximately 10,000 people worldwide. For more information, visit www.curtisswright.com.
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About Curtiss-Wright Controls, Inc.
Headquartered in Charlotte, NC, Curtiss-Wright Controls is the Controls segment of Curtiss-Wright Corporation and a leading designer and manufacturer of advanced technologies for niche actuation and drive applications, integrated sensors and electronic subsystems internationally for the aerospace and defense markets. For more information, visit www.cwcontrols.com.
Distribution Statement A: Approved for public release; distribution is unlimited. February 22, 2013; Case Number PR-0014.
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 Controls' expectations of future performance of this contract, the continued relationship with a customer, the continued success of this military ground defense program, the continued funding by the U.S. military of this military ground defense program, and the future opportunities associated with this 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; 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