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Curtiss-Wright Controls Forms Defense Solutions GroupNew Business Group Expands and Enhances Company's Focus on Aerospace and Defense COTS Module and System Integration Applications Worldwide (January 09, 2012)
CHARLOTTE, NC -- (Marketwire) -- 01/09/12 -- Curtiss-Wright Controls, Inc. today announced the launch of its new Defense Solutions business group, the Defense and Aerospace market's largest supplier dedicated to Commercial-Off-The-Shelf (COTS) and open standards solutions. The new Curtiss-Wright Controls Defense Solutions (CWCDS) organization, headquartered in Ashburn, VA, integrates the business operations of the Company's former Electronic Systems and Embedded Computing business units.
The new organization fortifies the Company's ability to serve burgeoning opportunities for open-standards-based rugged computing, subsystem development and system integration in the Aerospace and Defense market. CWCDS combines the unmatched system engineering, programmatic expertise, system packaging and subsystem development of the Electronic Systems unit with the advanced COTS module design, thermal management, lifecycle maintenance and COTS subsystem development leadership of the Embedded Computing unit into a larger, streamlined and more agile business operation.
"We are very excited to announce the formation of our new Defense Solutions business group, the world's largest Defense and Aerospace COTS and open standards solution provider," said David Adams, Co-Chief Operating Officer of Curtiss-Wright Corporation. "Our Electronic Systems and Embedded Computing business units already served many common customers and markets. Combining these two industry leaders in rugged, deployed technologies will better enable Curtiss-Wright to address a myriad of military programs worldwide."
Re-Structuring in Concert with a Shifting Market Landscape
In today's market, Curtiss-Wright has seen increasing demand for more affordable COTS-based and high Technology Readiness Level (TRL) hardware for military system upgrades. Customers now recognize that very high performance rugged deployed processor subsystems, such as those used in compute-intensive multi-processor C4ISR applications, can be effectively addressed with open standards-based COTS technology. These COTS subsystems replace expensive proprietary alternatives while delivering the most advanced processor technology to the warfighter sooner. To take advantage of the increased efficiencies and lower costs provided by COTS, leading prime and sub-prime contractors are turning to established partners like Curtiss-Wright to provide the design and complete integration of these electronic systems. This trend enables customers to focus their resources on their differentiating high value strengths, such as the development of unique application software, system offerings and platform integration.
Important new initiatives such as the U.S. Army VICTORY, U.S. Navy FACE, and the DoD MOSA programs are focusing on increasing the procurement of open-standards based high TRL hardware to reduce costs and increase interoperability for rugged subsystems deployed in harsh combat environments. The military's strengthened charter in this regard is driving the growing trend towards COTS along with external integration and design sourcing.
In response to these trends, and to better serve its market by streamlining and simplifying customer interaction, CWCDS will provide a unified business operation with increased efficiencies and complementary resources that truly result in a whole greater than the sum of its parts.
Lynn Bamford is the senior vice president and general manager of CWCDS. "We are very excited about how the combined capabilities and technology of these two successful and talented groups will enable us to reach new heights by shaping our markets and meeting our customers ever increasing demands," said Mrs. Bamford. "Our team of strong leaders will focus our combined strengths on supporting our customers, enabling us to achieve much more together than we could as separate groups."
A Stronger, More Agile Business with a Single Face to the Customer
The integration of Embedded Computing and Electronic Systems into a single organization unifies the company's large inventory of products and intellectual property. It also increases the company's ability to provide customers with the high TRL products and seamless levels of integration they more frequently require to minimize their risk and reduce their time to market. As a result, CWCDS has an enhanced ability to provide its customers who develop the larger systems that incorporate these subsystems, with higher levels of system engineering and system integration support. This will foster a greater ability to cost-effectively leverage key system features, such as advanced cooling and Secure Computing technologies, into processing products, subsystems, and networking products. It also streamlines access to the two groups' industry leading patented advanced packaging technologies within a unified business operation.
The formation of CWCDS is expected to deliver new levels of cost efficiencies internally and for customers, while aligning strategic endeavors. The integration of R&D resources will enable CWCDS to better invest in technologies that deliver the overall best value of its system level offerings for its customers.
Another significant benefit for CWCDS customers will be the improved communication and streamlining of cross-company interaction by providing a single face for sales and support. The single point of contact structure will significantly enhance and improve CWCDS' worldwide sales coverage for all of its groups.
Enhances Ability to Partner with Customers
In today's Defense & Aerospace market, customers are increasingly looking for partners that are willing to co-invest on key program pursuits. The larger, stronger CWCDS results in combined resources that better enables effective participation in these types of co-investment programs, increasing both CWCDS and its customers' ability to win new business and expand their market reach.
About Curtiss-Wright Controls, Inc.
Curtiss-Wright Controls, Inc., headquartered in Charlotte, NC, is the Motion Control business segment of Curtiss-Wright Corporation. This business segment designs and manufactures complex motion control components, systems and subsystems for specialized defense, commercial aerospace and general industrial applications. For more information, visit www.cwcontrols.com.
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 8,700 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 Controls' expectations of future benefits of this reorganization, the expectation of future efficiencies of the reorganized business unit, and the future opportunities associated with the reorganization, 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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