Curtiss-Wright Awarded $26 Million Contract to Provide Aircraft Arresting Systems and Support to the Belgian Air Force
Curtiss-Wright Corporation (NYSE:CW) today announced that it has been awarded a $26 million multi-year contract by the Belgian Air Force to implement a modernization program for its aircraft arresting systems.
Under the agreement, Curtiss-Wright will provide new cable systems and related turnkey services to three airbases to support the upcoming delivery of the F-35 to Belgium, as well as safeguard its emergency takeoff and landing phases. The contract also provides various services, spares, repair, and overhaul supporting the Belgian Air Force's military flight operations.
"As a leading global supplier of military aircraft arresting systems and support capabilities, Curtiss-Wright is proud to have the opportunity to build upon our existing relationship with the Belgian Air Force to provide new systems, aftermarket, and logistical services to support the availability and longevity of its arresting capability," said Lynn M. Bamford, Chair and Chief Executive Officer of Curtiss-Wright Corporation. "In addition, this contract further demonstrates the growing demand for our technologies in support of our defense allies and partners in NATO."
Curtiss-Wright will successively equip the main and parallel runways of the Florennes, Kleine-Brogel, and Bevauchain Air Bases to drive complete standardization of all air base configurations. In addition, Curtiss-Wright's ESCO SmartArrest® system, a unique, computerized version of the ESCO BAK-12 energy absorber, will help to automatically ensure the successive arrestment of multiple fighter jet platforms.
Curtiss-Wright is performing the work within its EMS division in the Naval & Power segment. Manufacturing of the energy absorbers and the BAK-12 mobile systems (PortArrest®) will take place at its Arresting Systems facility in Aston, Pa, while retractable hook cable systems will be manufactured at its Merpins, France facility. Additionally, a 10-year maintenance contract for services, spares, repair, and overhaul will be performed at the Merpins facility which has historically supported NATO European customers.
For more information on Curtiss-Wright Arresting Systems (ESCO), please visit http://www.cw-ems.com/arresting-systems.
About Curtiss-Wright Corporation
Curtiss-Wright Corporation (NYSE:CW) is a global integrated business that provides highly engineered products, solutions and services mainly to Aerospace & Defense markets, as well as critical technologies in demanding Commercial Power, Process and Industrial markets. We leverage a workforce of approximately 8,600 highly skilled employees who develop, design and build what we believe are the best engineered solutions to the markets we serve. Building on the heritage of Glenn Curtiss and the Wright brothers, Curtiss-Wright has a long tradition of providing innovative solutions through trusted customer relationships. 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 of future performance of our arresting systems products, additional contracts with this Belgian customer, the successful implementation of our products, the overall success of these defense programs and future opportunities associated with the installed base of these programs, 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 Belgium or US 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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