Curtiss-Wright Acquires Scientech, LLC
Expands Capabilities in High Growth Commercial Nuclear Power Market
ROSELAND, N.J., May 8 / -- Curtiss-Wright Corporation
(NYSE: CW) announced today that it has acquired the assets of Scientech, LLC
of Idaho Falls, Idaho, for approximately $57.8 million. Scientech is a global
provider of commercial nuclear power instrumentation, electrical components,
specialty hardware, process control systems, and proprietary database
solutions aimed at improving safety and plant performance, efficiency,
reliability and reducing costs. The business will become part of the
Commercial Power & Services group within Curtiss-Wright's Flow Control
segment.
"The acquisition of Scientech complements our capabilities in the
commercial nuclear power business and provides us with an excellent
opportunity to expand in this high growth market," said Curtiss-Wright
Chairman and CEO Martin R. Benante. "The company brings high value business
lines, including critical hardware, plant process controls and proprietary
database solutions which are highly synergistic with our existing nuclear
power products, and supports our strategy to become a primary global source of
critical technologies for nuclear power."
Approximately half of Scientech's business is generated by their Technical
& Hardware Solutions Group which provides instrumentation, electrical and
mechanical hardware for utilities to address obsolescence and improve
efficiency and safety of operations. The balance of the business is generated
by the Utility Services Group which provides utilities with specialized
analysis, technical consulting and engineering solutions to assist in
modernizing facilities, improving operating efficiency and responding to
regulatory requirements.
Founded in 1983 as a consulting, engineering and technical services
company serving government and utility customers, Scientech has grown
steadily, with 2006 sales of $46 million. Its customers are the leading
players in the domestic and international commercial power market, as well as
government agencies engaged in nuclear-related activities. The company is
headquartered in Idaho Falls, ID and has facilities in Huntsville, AL,
Dunedin, FL, Berwick, PA, and New Milford, CT.
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 6,200 people worldwide.
More information on Curtiss-Wright can be found at
http://www.curtisswright.com.
About Curtiss-Wright Flow Control Corp.
Curtiss-Wright Flow Control specializes in the design and manufacture of
highly engineered valves, pumps, 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 and is
the Flow Control operating segment of Curtiss-Wright Corp. (NYSE: CW)
headquartered in Roseland, NJ. For more information, visit
http://www.cwfc.com.
