Additive manufacturing (3D printing) technology study at the University of Pittsburgh’s Swanson School of Engineering to include Curtiss-Wright as a corporate partner

CHESWICK, P.A. – July 17, 2018 – Curtiss-Wright is collaborating with the University of Pittsburgh’s Swanson School of Engineering on a research project as one of two corporate partners. The University of Pittsburgh research project is being funded by a $1 million award from the U.S. Department of Energy (DOE) to improve the design and production of additive manufactured nuclear plant components as part of the DOE Nuclear Energy Enabling Technologies (NEET) program.

Additive manufacturing (AM), or 3D printing, has advanced the manufacture of complex components utilizing metal alloy powders that are applied one microscopic layer at a time and sintered or fused by lasers. Under current manufacturing processes, maintaining a component’s structural integrity requires interior supports which are too difficult and expensive to remove post-machining. This limits the adoption of AM by industries such as nuclear energy, which rely on cost-effective manufacturing of complex components.

To find an effective solution to these complex processes, the University of Pittsburgh’s Swanson School of Engineering will be the lead investigator on the award to advance design and manufacture of nuclear plant components via additive manufacturing.

The novel research will be directed by Albert To, associate professor of mechanical engineering and materials science (MEMS) at the Swanson School. Co-investigators include Wei Xiong, assistant professor of MEMS at Pitt, and Owen Hildreth, assistant professor at the

Arizona State University School for Engineering of Matter, Transport, and Energy. Corporate collaborators in Pittsburgh include Curtiss-Wright Corporation and Kennametal Inc.

The integrated approach taken by the project team will be to develop first-of-its-kind dissolvable supports, greater topology optimization, and improved microstructure design to make state-of-the-art nuclear components at lower cost, with minimal distortion and greater structural integrity.

Greg Hempfling, Vice President and General Manager of the EMS Division of Curtiss-Wright Corporation commented, “The University of Pittsburgh DOE Award is a great opportunity to combine university research with our nuclear component design and manufacturing experience to assist in the advancement of additive manufacturing in the nuclear industry. This effort will continue to advance nuclear power as a viable energy resource for our nation.”

The award is one of five NEET Crosscutting Technologies projects led by Department of Energy national laboratories, industry and U.S. universities to conduct research to address crosscutting nuclear energy challenges that will help to develop advanced sensors and instrumentation, advanced manufacturing methods, and materials for multiple nuclear reactor plant and fuel applications.

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 8,600 people worldwide.  For more information, visit www.curtisswright.com.

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Contact:
Rachel Lukcic
(724) 275-5339
[email protected]

DAVIDSON, N.C.--(BUSINESS WIRE)-- Curtiss-Wright Corporation (NYSE: CW) today announced that it has signed an Exclusive Cooperation Agreement with Saipem for barrier fluid-less subsea pump technology for water treatment and injection applications.

The development of the barrier fluid-less pump is a derivative technology application of Curtiss-Wright’s internationally recognized commercial nuclear expertise whose hallmarks are high reliability and maintenance-free equipment designs.

To qualify this new technology, Curtiss-Wright and Saipem will develop, build, and test a full-scale prototype of a barrier fluid-less pump. This pump is a cornerstone of the all-electric strategy to replace conventional hydraulic umbilicals with power/control cables in subsea processing applications. This technology will be beneficial for SPRINGS®, the subsea desulfation technology co-owned by Saipem, Total and Veolia, as well as for Saipem’s proprietary subsea processing technologies as a whole.

“We are very excited that the agreement with Saipem will allow Curtiss-Wright to bring its advanced motor technology to the subsea oil and gas market with a world-class integrator,” said David C. Adams, Chairman and CEO of Curtiss-Wright Corporation. “By leveraging decades of experience in supplying equipment for some of the most demanding applications, the barrier fluid-less solution will provide significantly reduced support infrastructure needs and a step-change in subsea motor and pump reliability.”

Stefano Porcari, COO of Saipem’s E&C Offshore Division, commented: “The strategic partnership with Curtiss-Wright marks a fundamental milestone for the technology development program Saipem has in place in order to become a key player in the Subsea Processing Market. Reliability, innovative design and a relentless focus on quality are the pillars of such a journey towards the next frontiers of subsea oil development. Today, we set the basis for a successful inception of our product and service portfolio within the Subsea Processing Market.”

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 8,600 people worldwide. For more information, visit www.curtisswright.com.

About Saipem

Saipem is one of the world leaders in drilling services, as well as in the engineering, procurement, construction and installation of pipelines and complex projects, onshore and offshore, in the oil & gas market. The company has distinctive competences in operations in harsh environments, remote areas and deepwater. Saipem provides a full range of services with “EPC” and “EPCI” contracts (on a “turn-key” basis) and has distinctive capabilities and unique assets with a high technological content. For more information on Saipem SPRINGS® technology, visit, http://www.saipem.com/sites/SAIPEM_en_IT/scheda/springs.page

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Curtiss-Wright Corporation
Jim Ryan, 704-869-4621
[email protected]

Free-deck naval aircraft handling systems are an agile, flexible and affordable alternative to integrated systems when the aircraft and sea conditions allow their use. Learn about the 5 key Criteria for Free-Deck Naval Aircraft Handling Systems and the Multi-Aircraft Nose Tail Interface System (MANTIS) aircraft tug from Curtiss-Wright Defense Solutions in our infographic - download the infographic here.

DAVIDSON, N.C.--(BUSINESS WIRE)-- Curtiss-Wright Corporation (NYSE: CW) today announced that it has been awarded a contract valued in excess of $85 million to provide main propulsion steam turbines and auxiliary equipment for the U.S. Navy’s Ford-class aircraft carrier Enterprise (CVN 80). The award was received from Huntington Ingalls, Newport News Shipbuilding (HII-NNS) to support planned ship construction.

“We are pleased to have been awarded this important naval defense contract, underscoring Curtiss-Wright’s long-standing relationship with the U.S. Navy and continued support of their critical platforms which continue to receive strong Congressional support,” said David C. Adams, Chairman and CEO of Curtiss-Wright Corporation. “This contract reflects the first award received by our Dresser-Rand government business acquired on April 2, 2018, and ensures that we will continue to provide the most advanced and reliable steam turbine technologies to Newport News Shipbuilding and the U.S. Navy. Further, our innovative products and reliable solutions continue to support the U.S. Navy’s cost and delivery targets, and reinforce the fleet readiness commitments for the aircraft carrier platform.”

Curtiss-Wright is performing the work within its EMS division in the Power segment. Engineering and manufacturing will commence in 2018 and will continue through at least 2022. The products will be shipped to Newport News Shipbuilding in Virginia.

For over 60 years, Curtiss-Wright has ensured safe, reliable operations by supplying innovative, high-performance products for every nuclear submarine and aircraft carrier commissioned by the U.S. Navy. In addition, Curtiss-Wright technologies, such as power-dense motors and enhanced valve designs, enable more efficient operations, reduce manpower and cost, and increase safety. For more information on Curtiss-Wright’s EMS division products, please visit https://www.cw-ems.com/.

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 8,600 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 steam turbine and auxiliary products, the continued relationship with an existing customer, the successful implementation and the success of this naval defense program and 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.

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Source: Curtiss-Wright Corporation

Leading Supplier of Mission-Critical, High-Speed Rotating Equipment Solutions to the U.S. Navy

DAVIDSON, N.C.--(BUSINESS WIRE)-- Curtiss-Wright Corporation (NYSE: CW) today announced that it has completed the acquisition of the Dresser-Rand Government Business (Dresser-Rand), a business unit of Siemens Government Technologies which is a wholly-owned U.S. subsidiary of Siemens AG in Germany, for $212.5 million in cash. Dresser-Rand is a leading designer and manufacturer of mission-critical, high-speed rotating equipment solutions, including reciprocating compressors, steam turbines and steam system valves, supporting most major U.S. Navy shipbuilding programs. In addition, Dresser-Rand is the sole supplier of steam turbines and main engine guard valves on all aircraft carrier programs.

The acquisition significantly increases Curtiss-Wright’s footprint on U.S. Navy Nuclear vessels, expands our existing U.S. Navy aftermarket business and provides an opportunity to leverage Dresser-Rand’s prominent presence at U.S. Navy shipyards. Through its three service centers, it is a leading provider of ship repair and maintenance for the U.S. Navy’s Atlantic and Pacific fleets.

The business will operate within Curtiss-Wright's Power segment and its sales are principally to the naval defense market, with additional sales to the power generation market. The acquisition supports our long-term financial objectives for increased sales growth, margin expansion and strong free cash flow generation. Excluding the effects of purchase accounting, it is expected to be accretive to Curtiss-Wright's 2018 earnings per share and produce a free cash flow conversion in excess of 100%.

Dresser-Rand equipment is used on hundreds of U.S. Navy ships to provide power and compression for propulsion, pump drives, ship service air, oxygen/nitrogen (O2N2) feed air, generator drives, and deballasting. The service centers primarily focus on overhauls of Dresser-Rand legacy equipment, emergent U.S. Navy shipyard repair needs and global service work pursuant to several key OEM service agreements. Dresser also produces the Terry©-branded steam turbine feedwater pumps for the commercial nuclear power market. The Dresser-Rand government business employs approximately 150 people.

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 8,600 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 that are based on management's beliefs and assumptions. Such statements, including statements relating to Curtiss-Wright Corporation's expectations for the future opportunities associated with the acquisition, the success of transferring Dresser-Rand’s technology throughout our existing world-wide network, and the success of the Company integrating Dresser-Rand into its Power 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.

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Source: Curtiss-Wright Corporation

Leading Supplier of Mission-Critical, High-Speed Rotating Equipment Solutions to the U.S. Navy

CHARLOTTE, N.C.--(BUSINESS WIRE)-- Curtiss-Wright Corporation (NYSE:CW) today announced that it has entered into an agreement to acquire the assets that comprise the Dresser-Rand Government Business (Dresser-Rand), a business unit of Siemens Government Technologies which is a wholly-owned U.S. subsidiary of Siemens AG in Germany, for $212.5 million in cash. The acquired business will operate within Curtiss-Wright's Power segment, and is expected to be accretive to 2018 earnings per share and produce a free cash flow conversion in excess of 100%, excluding the effects of purchase accounting.

Dresser-Rand is a leading designer and manufacturer of mission-critical, high-speed rotating equipment solutions, including reciprocating compressors, steam turbines and steam system valves, supporting Nimitz-class and Ford-class aircraft carriers, Virginia-class and Columbia-class submarines, and most major U.S. Navy shipbuilding programs. Dresser-Rand is the sole supplier of steam turbines and main engine guard valves on all aircraft carrier programs. Through its three service centers, it is also a leading provider of ship repair and maintenance for the U.S. Navy’s Atlantic and Pacific fleets.

"The acquisition of Dresser-Rand’s government business portfolio significantly expands our shipset content and increases our footprint on new U.S. Navy Nuclear vessels, establishes a prominent Curtiss-Wright presence at U.S. Navy shipyards, and provides an opportunity to grow our existing U.S. Navy aftermarket business,” said David C. Adams, Chairman and CEO of Curtiss-Wright Corporation. “The combination of our long-standing relationships with similar customers, and proven track records supporting critical U.S. naval defense platforms, ensures that we are well-positioned to benefit from the continued expansion of our U.S. naval fleet. Further, this transaction exemplifies the ideal strategic and financial fit for Curtiss-Wright as it supports our long-term financial objectives for increased sales growth, margin expansion and strong free cash flow generation.”

For over 60 years, Curtiss-Wright has ensured safe, reliable operations by supplying innovative, high-performance products for every nuclear submarine and aircraft carrier commissioned by the U.S. Navy. Today, we are the preferred supplier of pumps and valves used in the nuclear propulsion system, which is the heart of the most critical function of these vessels, while Dresser-Rand is one of the leading providers of main steam propulsion turbines and valves.

Dresser-Rand equipment is used on hundreds of U.S. Navy ships to provide power and compression for propulsion, pump drives, ship service air, oxygen/nitrogen (O2N2) feed air, generator drives, and deballasting. The service centers primarily focus on overhauls of Dresser-Rand legacy equipment, emergent U.S. Navy shipyard repair needs and global service work pursuant to several key OEM service agreements. Dresser also produces the Terry©-branded steam turbine feedwater pumps for the commercial nuclear power market.

The Dresser-Rand government business, which employs approximately 150 people, is expected to generate sales of approximately $95 million in fiscal 2018, principally to the naval defense market, with additional sales to the power generation market. The acquisition is expected to close in April 2018, subject to the receipt of regulatory approval and other closing conditions.

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 8,600 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 that are based on management's beliefs and assumptions. Such statements, including statements relating to Curtiss-Wright Corporation's expectations for the future opportunities associated with the acquisition, the success of transferring Dresser-Rand’s technology throughout our existing world-wide network, and the success of the Company integrating Dresser-Rand into its Power 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.

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Source: Curtiss-Wright Corporation