CHARLOTTE, N.C., Nov. 19, 2015 (GLOBE NEWSWIRE) -- Curtiss-Wright Corporation (NYSE:CW) today announced that it successfully completed the shipment of the first pair of AP1000^® reactor coolant pumps (RCPs) for Sanmen Unit 1 in China, the world's first AP1000 nuclear power plant. The two RCPs are expected to be on-site in December 2015, in support of key project milestones. The Company also expects to complete production and shipment of the remaining two RCPs for Sanmen Unit 1 by year end.

"The successful shipment of our first-of-a-kind RCPs represents another major milestone achievement for Curtiss-Wright," said David C. Adams, Chairman and CEO of Curtiss-Wright Corporation. "Having recently completed the full testing and qualification processes for our RCPs, these actions reflect our on-going commitment to safe and reliable AP1000 plant operation. Further, we look forward to continuing our support of China's nuclear power program."

Under prior contracts received in 2007 and 2008 for plant sites in China and the United States, respectively, Curtiss-Wright is producing a total of thirty-two RCPs for four AP1000 nuclear plants currently under construction, which include the Sanmen site in Zhejiang Province, China; the Haiyang site in Shandong Province, China; the Southern Nuclear Vogtle site in Georgia; and the SCANA V.C. Summer site in South Carolina.  The shipment of these thirty-two RCPs, which began this month, is expected to continue through 2017. Although a key program milestone, the shipment of RCPs will not be a significant contributor to revenue and profitability, as revenue recognition is based on the percentage of completion method of accounting, which is principally linked to production. 

In October, the Company announced that it had successfully completed extensive China regulator reviews and detailed post-test inspections. As a result, the review confirmed that the RCP performed as required during the final performance testing and reached full qualification. The RCP performance met the design requirements which are necessary to support safe and reliable AP1000 plant operation.

Curtiss-Wright is producing the RCPs at its Electro-Mechanical Division (EMD) facility in Cheswick, Pennsylvania (USA).

About Curtiss-Wright Corporation

Curtiss-Wright Corporation (NYSE:CW) is a global innovative company that delivers highly engineered, critical function products and services to the commercial, industrial, defense and energy markets. Building on the heritage of Glenn Curtiss and the Wright brothers, Curtiss-Wright has a long tradition of providing reliable solutions through trusted customer relationships. The company employs approximately 9,000 people worldwide. For more information, visit www.curtisswright.com.

CONTACT:
Jim Ryan
(704) 869-4621
[email protected]

Source: Curtiss-Wright Corporation

CHARLOTTE, N.C., Oct. 28, 2015 (GLOBE NEWSWIRE) -- Curtiss-Wright Corporation (NYSE:CW), Westinghouse Electric Company and State Nuclear Power Technology Corporation (SNPTC) of China today announced the successful completion of final performance testing and post-test inspections of the lead AP1000^® plant reactor coolant pump (RCP). Throughout the testing, the RCP performance met the design requirements which are necessary to support safe and reliable AP1000 plant operation.

The achievement will result in the shipment of the first and second Sanmen Unit 1 RCPs for arrival on site by December 31, 2015, to support key upcoming project milestones at Sanmen Unit 1, the world's first AP1000 plant. Successful test completion also will lead to fabrication and delivery of the remaining two RCPs for Sanmen Unit 1, and RCPs for the seven additional AP1000 reactors currently under construction in China and the United States, which include a second reactor at Sanmen; two at the Haiyang site in Shandong Province, China; two at Southern Nuclear's Vogtle site in Georgia; and two at the SCANA V.C. Summer site in South Carolina.

The final performance testing has verified successful RCP operation during a full range of AP1000 plant operating conditions for more than 1,600 total hours, including more than 600 start-and-stop cycles. Extensive China regulator reviews and detailed post-test inspections are now complete and confirmed that the RCP performed as designed during the final performance testing. Curtiss-Wright conducted the testing and inspection at its Electro-Mechanical Division (EMD) facility in Cheswick, Pennsylvania (USA).

"The successful completion of this extensive verification process on our first-of-a-kind RCP design represents another significant milestone achievement for Curtiss-Wright and its employees, and demonstrates our on-going commitment to the AP1000 nuclear reactor program," said David C. Adams, Chairman and CEO of Curtiss-Wright Corporation. "Furthermore, as a key partner to Westinghouse and SNPTC, we look forward to the successful operation of the first AP1000 plant and we remain committed to supporting China's growing nuclear power program."  

"Conclusion of the reactor coolant pump testing program is a major milestone in the delivery of the world's first AP1000 plant. The rigor and discipline applied throughout the testing process demonstrate the safety and quality focus of the AP1000 project team. With the completion of this phase, we are now positioned for the next steps in providing our customers with a new generation of safe, clean, reliable energy," said Jeff Benjamin, Westinghouse senior vice president, New Plants and Major Projects.

"Designing and manufacturing the technically sophisticated and demanding AP1000 reactor coolant pump has been a close, collaborative effort. After seven years of hard work among China and U.S. companies and a rigorous regulatory review and strong support of the National Nuclear Safety Administration (NNSA) and National Energy Administration (NEA) of China, development of the reactor coolant pump has succeeded," said Zhongtang WANG, president of State Nuclear Power Technology Corporation. "This success will further accelerate China AP1000 project construction progress as well as boost advanced passive Generation III nuclear power development in China."

About Curtiss-Wright Corporation

Curtiss-Wright Corporation (NYSE:CW) is a global innovative company that delivers highly engineered, critical function products and services to the commercial, industrial, defense and energy markets. Building on the heritage of Glenn Curtiss and the Wright brothers, Curtiss-Wright has a long tradition of providing reliable solutions through trusted customer relationships. The company employs approximately 9,000 people worldwide. For more information, visit www.curtisswright.com.

Westinghouse Electric Company, a group company of Toshiba Corporation (TKY:6502), is the world's pioneering nuclear energy company and is a leading supplier of nuclear plant products and technologies to utilities throughout the world. Westinghouse supplied the world's first commercial pressurized water reactor in 1957 in Shippingport, Pa., U.S. Today, Westinghouse technology is the basis for approximately one-half of the world's operating nuclear plants, including more than 50 percent of those in Europe. AP1000 is a trademark of Westinghouse Electric Company LLC. All rights reserved.

State Nuclear Power Technology Corporation, a Group Company of State Power Investment Corporation, is one of three NPP developer & operators in China, a leading GEN III nuclear power technology developer, as well as an NPP EPC contractor and lifetime services supplier with nearly 13,000 employees.

CONTACT:
Jim Ryan
(704) 869-4621
[email protected]

Source: Curtiss-Wright Corporation

CHARLOTTE, N.C., June 15, 2015 (GLOBE NEWSWIRE) -- Curtiss-Wright Corporation (NYSE:CW) announced today that it has been awarded contracts valued at over $480 million when fully funded to supply pumps, valves, generators and propulsors for the U.S. Navy's Block IV Virginia Class Submarine Program. The Navy's Block IV contracts cover 10 submarines, two per year from fiscal years 2014 through 2018. Thus far, more than $330 million of funding has been allotted to these contracts, with the remaining funding to be provided incrementally. The Curtiss-Wright Electro-Mechanical Systems (EMS) Division facilities in Cheswick, PA and Bethlehem, PA and the Curtiss-Wright Industrial Division facility in East Farmingdale, New York are performing the work under these contracts. Engineering and manufacturing has commenced and will continue through 2019.

"We are very proud to have been awarded these contracts, which continue Curtiss-Wright's long-standing relationship and ongoing support for the U.S. Navy's nuclear powered Virginia Class Submarine program," said David C. Adams, Chairman and CEO of Curtiss-Wright Corporation. "These submarines remain critically important to our national defense, and our continuous improvement and cost reduction initiatives have supported the U.S. Navy in its efforts to contain costs while providing critical resources required by the Navy.  Since the inception of nuclear powered submarines, Curtiss-Wright's commitment to providing critical and reliable technologies has ensured our continued participation in these indispensable programs."

For over 55 years, Curtiss-Wright has supplied technologically advanced products and services to the U.S. Navy, particularly for nuclear propulsion systems. The company's innovative, high-performance products can be found aboard all nuclear submarines and aircraft carriers currently in the U.S. Navy's fleet, ensuring safe, reliable operations. Curtiss-Wright technologies, such as power-dense motors and enhanced valves, enable more efficient operations, reduce manpower and overall cost, and increase personnel and ship safety.

About Curtiss-Wright Corporation

Curtiss-Wright Corporation (NYSE:CW) is a global innovative company that delivers highly engineered, critical function products and services to the commercial, industrial, defense and power markets. Building on the heritage of Glenn Curtiss and the Wright brothers, Curtiss-Wright has a long tradition of providing reliable solutions through trusted customer relationships. The company employs approximately 9,000 people worldwide. For more information, visit www.curtisswright.com.

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 Corporation's expectations of future performance of our products, the continued relationship with an existing customer, the success of these naval defense programs and future opportunities and potential value associated with these contracts and the submarine 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.

CONTACT:
Jim Ryan
(973) 541-3766
[email protected]

Source: Curtiss-Wright Corporation

Cheswick, Pa. – April 6, 2015 – Curtiss-Wright Corporation (NYSE: CW) announced today that the Engineered Pump Division (EPD), a business of the EMS Division of Curtiss-Wright, has officially moved into their new state-of-the-art facility at 1185 Feather Way in Bethlehem, Pa. The company will be hosting a Grand Opening Event for their customers as well as local officials on April 8, 2015.

“It is very rewarding to see the excitement in our employees as they enter their new facility. Their hard work and dedication displayed over many years are what brought us to this modern factory and I couldn’t be more pleased for all of our employees as we transition into this next phase for EPD,” said Greg Hempfling, Senior Vice President and General Manager, EMS Division. “Excellence in engineering, manufacturing and testing are at the heart of our pump systems that enable the Navy to protect our nation and keep our sailors safe. This modern facility will allow that legacy to continue and flourish.”

Construction of the facility began in 2013. It includes 145,000 sq. ft. of manufacturing, testing and warehouse space in addition to over 30,000 sq. ft. of office space. Previously based in Phillipsburg, N.J., EPD and their predecessor companies have been providing naval and maritime technological expertise since 1847. Part of Curtiss-Wright since 2004, EPD provides technologically advanced, highly engineered pumping solutions to the U.S. Navy, U.S. Coast Guard, Military Sealift Command, commercial marine, and foreign military programs, setting a high standard for innovation, quality and reliability.

About Curtiss-Wright Corporation Curtiss-Wright Corporation (NYSE:CW) is a global innovative company that delivers highly engineered, critical function products and services to the commercial, industrial, defense and energy markets. Building on the heritage of Glenn Curtiss and the Wright brothers, CurtissWright has a long tradition of providing reliable solutions through trusted customer relationships. The company employs approximately 9,000 people worldwide. For more information, visit www.curtisswright.com.

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