DAVIDSON, N.C.--(BUSINESS WIRE)--Curtiss-Wright Corporation (NYSE: CW) today announced that it has received a $27 million contract award from the Canadian Commercial Corporation (CCC) for the supply of Aircraft Ship Integrated Securing and Traversing (ASIST) systems. Under the agreement, Curtiss-Wright’s facility based in Mississauga, Ontario, Canada will provide its critical aircraft handling systems and support to the U.S. Naval Air Warfare Center for use on Constellation Class Frigates (FFG-62). The recent award is part of a five-year indefinite delivery, indefinite quantity (IDIQ) contract, potentially valued at nearly $100 million.
“We are pleased to have been selected by CCC to continue to provide our experience and expertise as a leading supplier of integrated shipboard helicopter handling systems operating at extreme seas conditions,” said Lynn M. Bamford, Chair and CEO of Curtiss-Wright Corporation. “This award reflects our commitment to provide the most advanced and reliable aircraft handling systems to support the safe landing and traversing of Naval manned aircraft for the U.S. Navy and allied forces.”
“Canadian expertise in helicopter landing systems is at the forefront of aviation safety and innovation. The success of Curtiss-Wright’s technologies reinforces Canada’s position as a global leader in this critical area of aerospace technology,” said Diane Montambault, Vice President of Contract Management and Operations, CCC.
Curtiss-Wright is a leading manufacturer of naval helicopter handling systems, undersea sensor handling, and ship aviation support systems for large and complex naval defense programs, and has secured contracts globally supporting navies in Australia, Canada, Chile, India, Singapore, Spain, Turkey and the United States.
Curtiss-Wright’s ASIST system is a proven free-deck landing system that enables helicopter landings to be made with limited human interaction in extreme sea environments. During descent, ASIST's precision Helicopter Position Sensing Equipment system continuously tracks and monitors the exact position of the aircraft, relative to the designated landing area and displays it to the pilot through a series of visual landing cues. In addition to supplying the U.S. Navy with the ASIST system, Curtiss-Wright and CCC have partnered on numerous contracts with the U.S. military over the past 40 years for hardware components, equipment, and systems including the RAST (Recovery Assist, Secure and Traverse) shipboard system for helicopters.
Curtiss-Wright is performing the work within its EMS division within the Naval & Power segment. For more information on Curtiss-Wright naval aircraft handling systems, please visit https://www.cw-ems.com/indal/.
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 8,800 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.
About CCC
CCC is Canada’s government to government contracting agency. We help build successful commercial relationships between Canadian businesses and governments around the world through our government to government contracting approach. We are also the U.S. Department of Defense designated contracting authority for procurements from Canada. To learn more about how we have facilitated billions in trade between Canadian businesses and governments around the world, visit ccc.ca.
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 aircraft handling systems products, additional contracts with an existing customer, the continued funding by the U.S. Government for the FFG program, 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.
