Curtiss-Wright Acquires Benshaw Advanced Controls & Drives
Expands Leadership in Electronic Motor Controls and Protection Technology
ROSELAND, N.J., Aug. 1 -- Curtiss-Wright
Corporation (NYSE: CW) announced today that it has acquired the stock of
Benshaw Advanced Controls & Drives, of Pittsburgh, PA, for approximately $102
million in cash. Benshaw is a market leader in the design, development and
manufacture of mission critical motor control and protection product solutions
for leading original equipment manufacturers (OEMs) and industrial customers.
The business will become part of Curtiss-Wright's Flow Control segment.
As a leading electrical engineering and manufacturing company, Benshaw
provides turnkey motor and machine control and protection solutions for OEM
customers. In many applications, multiple motors are required to control a
process. Benshaw typically controls and protects the complete system with one
integrated panel. Benshaw engineers and manufactures a full range of rugged,
reliable and internationally compliant products that smoothly control the
amount of electrical current provided to motors. Custom panel solutions
include a variety of low and medium voltage components, such as starters,
drives, contactors, breakers and other related devices. Benshaw has an
installed base of over 100,000 control units, with hundreds of custom systems
designed.
"The addition of Benshaw to the Curtiss-Wright family of companies
provides a major opportunity to expand our product offerings in the commercial
power, control electronics and systems markets," said Curtiss-Wright Chairman
and CEO Martin R. Benante. "Benshaw's expertise in electronic motor control
and protection technology will support our growth in high speed motors and
AP1000 pumps, as well as providing a low-cost manufacturing resource for
future military applications."
Benshaw's customers are in the industrial HVAC market as well as the
energy processing market, including petrochemicals, power generation, mining
and transportation. Sales in 2006 were approximately $82 million. Its
reputation as the industry leader in custom control solutions and related
services has resulted in a premier customer base of some of the world's
largest and most respected companies.
Founded in 1983, Benshaw employs approximately 410 people and is
headquartered in Pittsburgh, PA, with 9 locations in the U.S. and two in
Canada.
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 metal
treatment services. The firm employs approximately 6,800 people worldwide.
More information on Curtiss-Wright can be found at www.curtisswright.com.
About Curtiss-Wright Flow Control Corp.
Curtiss-Wright Flow Control specializes in the design and manufacture of
highly engineered valves, pumps, motors, generators, electronics and related
products for the commercial nuclear power industry, oil and gas processing
facilities, and a range of critical military programs. CWFC's innovative,
high-performance products play an integral role in our nation's defense, and
in the safe, efficient operation of power plants and other industrial sites
worldwide. Based in Falls Church, VA, the company has 2,000 employees
worldwide. For more information, visit www.cwfc.com.
