Curtiss-Wright Completes Acquisition Of BASF's Surface Technologies Business
Leading Provider of Thermal Spray Coatings for Turbine Engines
Parsippany-Troy Hills, NJ (GLOBE NEWSWIRE) - Curtiss-Wright Corporation (NYSE:CW) today announced that it has completed its purchase of the assets of BASF's Surface Technologies business from BASF Corporation. The Surface Technologies business is a leading supplier of thermal spray coatings for aerospace and power generation markets, and it will become part of Curtiss-Wright's Metal Treatment segment.
BASF's Surface Technologies business generated sales of approximately $29 million in 2010 and has approximately 150 employees at its three operating facilities located in East Windsor, CT, Wilmington, MA and Duncan, SC. All three facilities are ISO 9001 certified and Nadcap accredited for thermal spray coating of aerospace components.
About Curtiss-Wright
Curtiss-Wright Corporation is a diversified company headquartered in Parsippany, NJ. The company designs and manufactures 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 Metal Treatment
Headquartered in Paramus, NJ, Curtiss-Wright's Metal Treatment segment provides precision metal treatment services, including shot peening, shot peen forming, laser peening, heat treating and specialty coatings. Its customer base includes the commercial aerospace, automotive, power generation and processing industries. The company operates 68 metal treatment facilities in North America, Europe and Asia. For more information, visit www.metalimprovement.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 future performance of the BASF Surface Technologies business unit, the future opportunities associated with the acquisition, and the success of the Company integrating BASF Surface Technologies into its Metal Treatment segment, 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 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