PARSIPPANY, N.J., May 27 /PRNewswire-FirstCall/ — Curtiss-Wright Corporation (NYSE:CW) today announced that it has signed a definitive purchase agreement to acquire Hybricon Corporation (“Hybricon”) for $19 million in cash. Hybricon is a leading supplier of high performance electronic packaging for the aerospace, defense and commercial markets, and provides electronic subsystem integration expertise which generates more efficient product development and reduced design and manufacturing risk for its customers. The transaction is expected to close by June 1, 2010.
“Hybricon’s expertise in advanced packaging and thermal management for deployed military system enclosures will strengthen Curtiss-Wright’s leadership position in the aerospace and defense electronic subsystems market,” said Martin R. Benante, Chairman and CEO of Curtiss-Wright Corporation. “The addition of Hybricon’s electronic enclosure technologies in our overall design and manufacturing portfolio will expand our system integration capabilities and significantly enhance Curtiss-Wright’s ability to provide mission-critical rugged solutions to customers worldwide.”
Hybricon, based in Ayer, MA, designs and manufactures custom and standards-based enclosures and electronic backplanes for defense and commercial applications. They are a leading supplier for the most popular embedded commercial-off-the-shelf (COTS) system architectures including OpenVPX, VPX, VXS, VME64X, CompactPCI, and MicroTCA. In 2009, they had sales of approximately $17 million, including an 85% concentration in the defense market. Hybricon will operate in Curtiss-Wright’s Motion Control segment, within the Electronic Systems division.
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 7,500 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, 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.
