Curtiss-Wright Awarded $10 Million Contract from Northrop Grumman

PARSIPPANY, N.J., March 24 /PRNewswire-FirstCall/ -- Curtiss-Wright Corporation (NYSE: CW) today announced that it has been awarded a $10.5 million contract by Northrop Grumman Corporation to provide an upgraded Radar Signal Processing (RSP) solution for use in the Joint Surveillance and Target Attack Radar System (Joint STARS) program. The initial portion of the contract, for $5.1 million, was awarded for the Joint STARS Prime Mission Equipment (PME) Diminishing Material Source (DMS).  An additional $5.4 million was awarded to enhance the RSP solution so that it meets advanced radar processing capacity requirements necessary to support future radar performance needs.

"Curtiss-Wright is committed to its leadership role in developing advanced products that support critical defense applications such as the Joint STARS program," said Martin R. Benante, CEO and Chairman of Curtiss-Wright Corporation.  "Our embedded computing technology will support the aircraft's advanced radar signal processing needs, which in turn provides improved efficiency for our military personnel."

The U.S. Air Force's E-8 Joint STARS aircraft is the world's premier ground surveillance platform, which is able to track slow moving or stationary targets at sea, on the ground or hugging the terrain in slow flight. The Air Force's Radar Airborne Signal Processor (RASP) system performs the radar signal processing capabilities of the Joint STARS aircraft, enabling its ability to process data that results in the ability to locate targets. The contract is part of a larger upgrade to the RASP system used in Joint STARS.  

Curtiss-Wright's Motion Control segment will design and manufacture the Radar Signal Processing (RSP) solution at its San Diego, CA facility.    

About Curtiss-Wright

Curtiss-Wright Corporation is a diversified company headquartered in Parsippany, NJ. The company designs, manufactures and overhauls products for motion control and flow control applications, and provides a variety of specialized metal treatment services. The firm employs approximately 7,600 people worldwide. For more information, visit www.curtisswright.com.  

About Curtiss-Wright Controls, Inc.

Headquartered in Charlotte, NC, 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 future performance of our development work, the  value of the contract,  the continued relationship with an existing customer, the successful implementation and funding of this government program and 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; 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.  

SOURCE Curtiss-Wright Corporation