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Curtiss-Wright Acquires Mechetronics Ltd

Written by thomas · Filed Under Aeronautics News 

October 1, 2008

thomas

Leading Designer of OEM Solenoids for General Industry

ROSELAND, N.J., Oct. 1 /PRNewswire-FirstCall/ — Curtiss-Wright
Corporation (NYSE: CW) today announced that it has acquired Mechetronics
Ltd for $2.8 million. Mechetronics develops and supplies solenoids and
solenoid valves for industrial markets. The business will become part of
Curtiss-Wright’s Motion Control segment.

“The addition of Mechetronics expands Curtiss-Wright’s leadership in
the supply of OEM solenoid design and manufacturing. Mechetronics brings
extensive experience in the design of industrial solenoids, including
manufacturing in China, and complements our aerospace and defense solenoid
businesses in North America and Europe,” said Curtiss-Wright Chairman and
CEO Martin R. Benante.

Mechetronics is a global supplier of solenoids and solenoid valves to
original equipment manufacturers (OEMs). A solenoid is an electromagnetic
actuator used as a mechanical switch or integrated with a valve to provide
control in pneumatic or hydraulic systems. The Mechetronics products are
used in a variety of applications including business machines, switchgear
and vehicle braking systems.

Originally founded in 1918, today Mechetronics is a leading solenoid
supplier in the U.K. with expected sales of $11 million in 2008. Operations
are headquartered in a 27,000 square-foot facility in Bishop Auckland,
U.K., and include a new production facility opened in Zhuhai, China in
2007. Mechetronics employs 65 people.

About Curtiss-Wright

Curtiss-Wright Corporation is a diversified company headquartered in
Roseland, N.J. The company designs, manufactures and overhauls products for
motion control and flow control applications, and provides a variety of
specialized metal treatment services. The firm employs approximately 7,600
people worldwide. For more information about Curtiss-Wright visit
http://www.curtisswright.com.

About Curtiss-Wright Motion Control

Headquartered in Charlotte, N.C., Curtiss-Wright Controls is the Motion
Control segment of Curtiss-Wright Corporation. With manufacturing
facilities around the world, Curtiss-Wright Controls is a leading
technology-based organization providing niche motion control products,
subsystems and services internationally for the aerospace and defense
markets. For more information, visit http://www.cwcontrols.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 future performance and opportunities, 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 and Exchange Act of 1934, as amended, for further
information.

SOURCE Curtiss-Wright Corporation

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