To be Used for NuScale's Small Modular Reactor

PARSIPPANY, N.J., Nov. 12, 2012 (GLOBE NEWSWIRE) -- Curtiss-Wright Corporation (NYSE:CW) announced today that its Flow Control segment's Electro-Mechanical Division (EMD) business unit has signed a contract with NuScale Power to design control rod drive mechanisms (CRDMs) for NuScale's small modular reactor (SMR). Curtiss-Wright will design the CRDMs, which control the insertion and removal of control rod assemblies, at its facility in Mt. Pleasant, Pa. The initial contract covers the design phase of the program.  

"This is a significant contract in many ways," said Martin R. Benante, Chairman and CEO, Curtiss-Wright Corporation. "First, we are proud to begin a productive partnership with NuScale. Second, small modular reactor CRDMs are a key driver of growth for Curtiss-Wright and we are pleased to be working on the development of this important technology. Third, it continues our long-standing commitment to the future growth of the worldwide nuclear power market and the creation of clean, affordable energy and thousands of high quality jobs."

Curtiss-Wright is a world-class designer and manufacturer of CRDMs, having supplied over 5,000 units worldwide for nuclear power plants, including the first-ever installation on a reactor head in the U.S. The Company brings its vast experience supporting existing operating reactors globally and new build reactor designs, particularly for the Westinghouse AP1000, to the application of this technology for small modular nuclear reactors.  

"With Curtiss-Wright's leadership in the design of CRDMs for use in NuScale's SMR power modules, our customers are assured of high performance technology," said Paul Lorenzini, Chief Executive Officer, NuScale Power LLC. "We are pleased to add Curtiss-Wright to our team of world-class suppliers."

NuScale is pursuing U.S. Nuclear Regulatory Commission (NRC) approval for its SMR design, which is an integral pressurized-water reactor (iPWR). The design is a natural circulation light water reactor with the reactor core and helical coil steam generator located in a common reactor vessel in a cylindrical steel containment. The reactor vessel/containment module is submerged in water in the reactor building safety related pool. The reactor building, which is located below grade, is designed to hold 12 SMRs. Each NuScale SMR has a rated thermal output of 160 MWt and electrical output of 45 MWe, yielding a total capacity of 540 MWe for 12 SMRs.

About Curtiss-Wright Corporation

Curtiss-Wright Corporation is an innovative engineering company that provides highly engineered, critical function products, systems and services in the areas of flow control, motion control and metal treatment to the defense, energy and commercial/industrial markets. The legacy company of Glenn Curtiss and the Wright brothers, Curtiss-Wright has a long tradition of design and manufacturing innovation and prides itself on long-standing customer relationships. The company employs approximately 8,300 people worldwide. For more information, visit www.curtisswright.com.

The Curtiss-Wright Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7709

About Curtiss-Wright Flow Control Segment

Curtiss-Wright Flow Control Company, headquartered in Falls Church, VA, is the Flow Control business segment of Curtiss-Wright Corporation. This business segment designs and manufactures highly engineered valves, pumps, motors, generators, electronics, systems and related products for complex naval defense, power generation, oil and gas and general industrial applications. For more information, visit www.cwfc.com.

NuScale Power, LLC

NuScale Power, LLC is developing an inherently safe, modular, scalable commercial nuclear power technology. NuScale's design offers the benefits of carbon-free nuclear power but removes the issues presented by the cost of installing large capacity. A nuclear power plant using NuScale's technology is comprised of individual nuclear power modules; each produces 45 megawatts of electricity with its own combined containment vessel and reactor system, and its own designated turbine-generator set. A power plant can include as many as 12 NuScale integral pressurized-water reactor modules to produce as much as 540 megawatts. NuScale power plants are scalable; additional modules are added as customer demand for electricity increases. These multi-module plants are highly reliable — one unit can be taken out of service for refueling or maintenance, or a new unit added, without affecting the operation of the others. The reactors are cooled by natural convection of water, requiring no pumps in the event of a shutdown. For more information, visit www.nuscalepower.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 commercial nuclear products, the continued relationship with an existing customer, the successful implementation of small modular reactors in the marketplace, the success of our control rod drive mechanisms in these small modular reactors and future opportunities associated with the small modular reactor 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

PARSIPPANY, N.J., Sept. 24, 2012 (GLOBE NEWSWIRE) -- Curtiss-Wright Corporation (NYSE:CW) today said a strike by 300 IBEW workers at its Flow Control segment's Electro-Mechanical Division (EMD) facility in Cheswick, Pa., has concluded and union members have begun to return to work.

On August 18, 2012, contractual agreements expired between EMD and its two local unions - Local Union 1914 of the International Brotherhood of Electrical Workers (IBEW) and the Association of Westinghouse Salaried Employees (AWSE) District 16, an affiliate of the Federation of Independent Salaried Unions (FISU), which represents 130 employees. The Company reached an agreement with the AWSE in early September and a contract was ratified by the IBEW on September 21^st. 

As anticipated, this strike will have a significant adverse impact on Curtiss-Wright's financial results for Fiscal 2012 and the Company will update the financial community in the near future.

About Curtiss-Wright Corporation

Curtiss-Wright Corporation is an innovative engineering company that provides highly engineered, critical function products, systems and services in the areas of flow control, motion control and metal treatment to the defense, energy and commercial/industrial markets. The legacy company of Glenn Curtiss and the Wright brothers, Curtiss-Wright has a long tradition of design and manufacturing innovation along with long-standing customer relationships. The company employs approximately 8,600 people worldwide. For more information, visit www.curtisswright.com

The Curtiss-Wright Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7709

Certain statements made in this release, including statements about the adverse impact of the strike, the possible revenue impact, adverse financial performance from the strike, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements present management's expectations, beliefs, plans and objectives regarding future financial performance, and assumptions or judgments concerning such performance. Any discussions contained in this press release, except to the extent that they contain historical facts, are forward-looking and accordingly involve estimates, assumptions, judgments and uncertainties. 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 government spending; an inability to perform customer contracts at anticipated cost levels; and other factors that generally affect the business of aerospace, defense contracting, electronics, marine, and industrial companies. Such factors are detailed in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2011, and subsequent reports filed with the Securities and Exchange Commission.

This press release and additional information are available at www.curtisswright.com.

CONTACT:
Jim Ryan
(973) 541-3766

First Shipment of Two Reactor Coolant Pumps Expected in Second Quarter of 2012

PARSIPPANY, N.J., April 16, 2012 (GLOBE NEWSWIRE) -- Curtiss-Wright Corporation (NYSE:CW), Westinghouse Electric Company LLC and the State Nuclear Power and Technology Corporation (SNPTC) of China today announced the successful completion of the design, manufacture and qualification of the lead AP1000™ Reactor Coolant Pump (RCP). Curtiss-Wright successfully performed qualification of the RCP at its Flow Control business segment's Electro-Mechanical Division (EMD) facility in Cheswick, PA.

The conclusion of qualification testing of the AP1000 RCP, including 50 service cycles and more than 500 total operating hours, clears the way for installation of the RCPs at Sanmen Unit 1 in China, the first AP1000 reactor to be built in the world. The shipment of the first two RCPs for Sanmen 1 is expected to occur in the second quarter of 2012.

"This marks a major milestone for Curtiss-Wright and especially our EMD employees, who have worked so tenaciously to develop and produce this first-of-a-kind technology," said Martin R. Benante, Chairman and CEO, Curtiss-Wright Corporation. "We are proud to be a critical and significant player in building the safest and most advanced nuclear reactors in the world, while meeting the energy needs of China and other countries across the globe."

"The RCPs will now help support many years of safe and reliable operation of AP1000 plants to produce the much needed electricity and jobs to sustain and grow economies, not only in China, but here in the U.S. and elsewhere in the world," said Ric Perez, Chief Operating Officer of Westinghouse Electric Company. "Helping to build infrastructure and promote energy development in the countries in which we do business while also creating jobs and infrastructure in the U.S. is our standard approach to international business."

Chairman Wang Binghua of the China SNPTC said today that the successful completion of the RCP endurance test has demonstrated that SNPTC, Westinghouse Electric Company and Curtiss-Wright's EMD "have jointly overcome the technological challenges for the AP1000 RCPs, which are among the most critical components of the AP1000 design."

Chairman Wang went on to say that, "not only will the successful completion of this important testing have a significant positive impact for the on-going AP1000 projects in China and the U.S., but also for the promotion of the AP1000 to other international markets. We expect that the successful delivery of the RCPs will ensure that China's first AP1000 unit at Sanmen will go online as projected in 2013. The SNPTC will continue to strengthen its ties with Westinghouse and Curtiss-Wright's EMD to further promote AP1000 technology and the growth of nuclear energy."

Curtiss-Wright will build 16 RCPs for the first two AP1000 plants in China at its expanded EMD facility in Cheswick, PA. Each plant is supported by two AP1000 reactors, while each reactor holds four reactor coolant pumps. Sanmen 1 is the flagship AP1000 reactor, with seven more reactors already under construction both in China and the U.S.: one more 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. 

Additional AP1000 plants are anticipated over the next decade in the U.S. and around the world, solidifying the AP1000 design as a foundation for the next generation of nuclear plants by employing passive safety systems, which rely only on natural forces to safely shutdown and remain cool.

About Curtiss-Wright Corporation

Curtiss-Wright Corporation is an innovative engineering company that provides highly engineered, critical function products, systems and services in the areas of flow control, motion control and metal treatment to the defense, energy and commercial/industrial markets. The legacy company of Glenn Curtiss and the Wright brothers, Curtiss-Wright has a long tradition of design and manufacturing innovation along with long-standing customer relationships. The company employs approximately 8,900 people worldwide. For more information, visit www.curtisswright.com

The Curtiss-Wright Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7709

About Curtiss-Wright Flow Control Segment

Curtiss-Wright Flow Control Company, headquartered in Falls Church, VA, is the Flow Control business segment of Curtiss-Wright Corporation. This business segment designs and manufactures highly engineered valves, pumps, motors, generators, electronics, systems and related products for complex naval defense, power generation, oil and gas and general industrial applications. For more information, visit www.cwfc.com. 

Westinghouse Electric Company LLC

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 pressurized water reactor in 1957 in Shippingport, PA. Today, Westinghouse technology is the basis for approximately one-half of the world's operating nuclear plants, including 60 percent of those in the United States.

About State Nuclear Power Technology Corporation

The State Nuclear Power Technology Corporation LTD (SNPTC) is a key state-owned China corporation established with investments from the State Council and the four large state-owned corporations. It is authorized by the State Council to sign contracts with foreign parties to receive the transferred 3^rd generation nuclear power technology; to execute the relevant engineering design and project management. SNPTC  is a key entity and platform for the 3^rd generation nuclear power technology introduction, project construction and the Self-Reliance development.

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 AP1000 products, the continued relationship with an existing customer, the successful implementation and the success of this reactor coolant pump 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.

CONTACT:
Jim Ryan (973)
541-3766