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Strengthens Position as a Leading Supplier of Integrated Outage Products and Services for Commercial Nuclear Power Plants
PARSIPPANY, N.J., Dec. 5, 2011 (GLOBE NEWSWIRE) -- Curtiss-Wright Corporation (NYSE:CW) announced today that it has acquired the assets of Anatec International, Inc. and Lambert, MacGill, Thomas, Inc. (LMT). Anatec and LMT perform testing and inspection services for commercial nuclear power plants to ensure safety, operational soundness and compliance with regulatory codes. Both businesses will become part of Curtiss-Wright's Flow Control segment.
"The acquisition of Anatec and LMT is a good strategic fit with our existing outage service business and will position us as a leader in the U.S. nuclear plant outage segment," said Martin R. Benante, Chairman and CEO of Curtiss-Wright Corporation. "Their expertise provides opportunities to expand into additional international nuclear plants and OEM services and develop new innovative technology solutions for the outage-related services platform. This is especially important as nuclear power plants implement more stringent inspection programs in order to comply with anticipated new regulatory requirements for improving safety and increasing capacity."
With estimated 2011 sales of approximately $28 million, Anatec and LMT are leaders in providing technologies and techniques for non-destructive examination (NDE) and testing of systems and components in nuclear power plants. NDE services support both in-service inspections to satisfy regulatory requirements and decision-making by nuclear plant operators concerning the ongoing reliability, operability and safety of nuclear systems and equipment. Anatec and LMT services also include quality control inspections, development of programs in support of ASME Code compliance, and training and qualification of NDE technicians.
Founded in 1982, Anatec provides full-service, non-destructive examinations to the commercial nuclear power industry in the U.S. and international markets. LMT, which joined Anatec in 1996, specializes in advanced ultrasonic testing and quality control inspection services. Anatec's and LMT's combined customer base is comprised of domestic and international utilities, Nuclear Steam Supply System (NSSS) vendors, architectural and engineering (A&E) firms, research and development institutions and other companies needing NDE services. Anatec and LMT are headquartered in San Clemente, CA, and have four supporting U.S. field offices.
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 http://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 http://www.cwfc.com For m.ore information about Anatec and LMT, visit http://anatec-lmt.cwfc.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 performance of Anatec International, Inc. and Lambert, MacGill, Thomas, Inc., the future opportunities associated with the acquisition, and the success of the Company integrating Anatec International, Inc. and Lambert, MacGill, Thomas, Inc.into its Flow Control 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.
CONTACT: Jim Ryan