Charlotte, N.C. – October 29, 2013 – Curtiss-Wright Controls, Inc. today announced that it has received a contract from Lockheed Martin Aeronautics to supply its COTS-based rugged Gigabit Ethernet (GbE) Switch technology for use in upcoming F-16 fighter jet upgrade programs for the United States Air Force (USAF) and other nations. The first of the upgrade programs is for the Taiwan Air Force’s F-16 aircraft fleet. Under the agreement, Curtiss-Wright Controls’ Defense Solutions division will provide Lockheed Martin with its SMS-652 SwitchBox™ rugged GbE Switch product. The initial contract is valued at approximately $3 million, and shipments are scheduled to begin in the first half of 2014. The estimated potential value of the contract is approximately $8M over the life of the additional upgrade programs.
“We are pleased to have been selected by Lockheed Martin to provide our cost-effective, proven Gigabit Switch subsystem for use in their F-16 fighter jet upgrade programs,” said Tom Quinly, President of Curtiss-Wright Controls. “The selection of the SMS-652 Switchbox to upgrade the Taiwan Air Force’s F-16 fleet reinforces Curtiss-Wright’s leadership position as a supplier of SWaP-optimized COTS solutions that deliver the highest contemporary processing and networking solutions to deployed rugged defense and aerospace platforms.”
About the SMS-652
The SMS-652 SwitchBox is a powerful open-standards based GbE network switch designed for rugged military systems. This cost-effective, compact COTS subsystem eases and speeds the process of integrating modern digital networked architectures into military platforms. The SMS-652 SwitchBox reduces design risk and shortens development schedules for bringing network-enabled operations to new and legacy airborne, ground combat, and unmanned platforms.
The Defense Solutions division will manufacture the products covered by this agreement at its Ottawa, Canada facility. The products will be shipped to Lockheed Martin Aeronautics in Ft. Worth, Texas.
For more information about Curtiss-Wright Controls Defense Solutions, please visit www.curtisswrightds.com.
About Curtiss-Wright Corporation
Curtiss-Wright Corporation (NYSE: CW) 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 l 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.
About Curtiss-Wright Controls, Inc.
Headquartered in Charlotte, N.C., 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 controls, and electronic subsystems internationally for the aerospace, defense and industrial markets. For more information, visit www.cwcontrols.com.
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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 performance and capabilities of its SMS-652 SwitchBox™, the continued success of this military 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; 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.