Curtiss-Wright Awarded $66 Million Contract for Virginia-Class Submarine Program

PARSIPPANY, N.J. | Curtiss-Wright Corporation on Friday announced that it has been awarded a contract, that when fully funded, is expected to be in excess of $66 million to provide valves that meet the demanding needs for the next six U.S. Navy Virginia-Class submarine nuclear propulsion systems. The award from Bechtel Plant Machinery, Inc. (BPMI) is for an initial two ship-sets, with options for another four ship-sets to be funded at two ship-sets per year in 2012 and 2013. Curtiss-Wright's Flow Control segment will perform the work at its facility in East Farmingdale, NY. Delivery of these components is scheduled for the 2012 through 2018 timeframe.

"We are very pleased to have been awarded this important naval defense contract," said Curtiss-Wright Chairman and CEO Martin R. Benante. "Our continuous improvement programs and innovation resulted in us achieving the cost reduction goals that supported the production increase of Virginia-Class submarines from one sub to two subs per year. Since the inception of nuclear powered ships, our commitment to providing advanced, reliable technologies and our strategic investment in innovative technologies has ensured our continued participation in this defense program."

For over 50 years, Curtiss-Wright has supplied technologically advanced products and services to the U.S. Navy, particularly for nuclear propulsion systems. Curtiss-Wright's innovative, high-performance products can be found aboard nuclear submarines and aircraft carriers owned by the U.S. Navy, ensuring safe, reliable operations. In addition, the company's technology advances, including more power-dense motors and enhanced valve designs, enable more efficient operations, increasing safety and reducing manpower and overall cost.