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Press Release

 

CURTISS-WRIGHT ACQUIRES HYBRICON: Expands Defense Electronics Subsystems Portfolio

CHARLOTTE, NC – June 2, 2010 – Curtiss-Wright Corporation (NYSE: CW) announced today it has purchased a Hybricon Corporation (“Hybricon”) for $19 million. Hybricon is a leader in their industry, supplying high performance electronic packaging for the aerospace, defense and commercial markets. Hybricon provides electronic subsystem integration expertise to generate more efficient product development and reduced design and manufacturing risk for customers. They will operate out of Curtiss-Wright’s Motion Control segment within the Electronic Systems division.

 

“We are very excited about adding Hybricon’s electronic enclosure technologies and expertise to our existing defense and aerospace system integration operations,” said David Adams, co-chief operating officer of Curtiss-Wright Corporation. “Hybricon’s broad customer base and their leadership position as a supplier of high performance rugged backplanes and enclosures will expand our Electronic Systems’ group’s ability to provide mission-critical rugged solutions around the globe.”

 

The Ayer, Massachusetts-based company designs and manufactures custom and standards-based electronic backplanes and enclosures for use in commercial and defense applications. Hybricon is a leading supplier for the most popular embedded commercial-off-the-shelf (COTS) system architectures, including VXS, OpenVPX, VME64X, VPX, MicroTCA, and CompactPCI. In 2009 Hybricon generated approximately $17 million in sales, with an 85% concentration in the defense market.

 

About Curtiss-Wright Controls, Inc.

Headquartered in Charlotte, N.C., Curtiss-Wright Controls is the motion control segment of Curtiss-Wright Corporation (NYSE: CW). Curtiss-Wright Controls is a leading international technology-based organization. With manufacturing facilities around the world, the company provides niche motion control products, subsystems and services for the aerospace and defense markets. For more information, visit www.cwcontrols.com.

About Curtiss-Wright

Curtiss-Wright Corporation is a diversified company headquartered in Parsippany, NJ. The company designs, manufactures and overhauls products for flow control and motion control applications, providing a plethera of specialized metal treatment services. The firm currently employs approximately 7,500 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 that are based on management's beliefs and assumptions. Such statements, including statements relating to Curtiss-Wright Corporation's expectations for the prospective performance of Hybricon Corporation, the potential opportunities associated with the acquisition, and the success of the Company integrating Hybricon Corporation into its Motion Controls segment, are not considered historical facts and are considered forward-looking statements under the federal securities laws. Such forward-looking statements contain certain risks and uncertainties that may cause actual results to differ materially from those expressed or implied. Readers are cautioned not unduly rely on these forward-looking statements, which speak only as of the date hereof. Risks and uncertainties include, but are not limited to: changes in competitive marketplace and/or customer requirements; a reduction in anticipated orders; a change in US government spending; an economic downturn; an inability to perform customer contracts at anticipated cost levels; and other factors that usually affect the business of aerospace, marine, defense contracting, 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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