Curtiss-Wright Acquires Valve Systems And Controls
Expands Leadership in Oil and Gas Technology
ROSELAND, N.J., June 1 /PRNewswire-FirstCall/ -- Curtiss-Wright
Corporation (NYSE: CW) announced today that it has acquired certain assets and
certain liabilities of Valve Systems and Controls (VSC) of Houston, Texas, for
approximately $75 million. VSC provides critical valve, automation, and
controls solutions for all facets of flow control operations to the oil and
gas market. The business will become part of Curtiss-Wright's Flow Control
segment.
"The acquisition of VSC further establishes Curtiss-Wright as a leader in
turnkey coker system solutions which is particularly attractive given the
tremendous growth in project work in the oil and gas processing market," said
Curtiss-Wright Chairman and CEO Martin R. Benante. "Building on our growing
installed base in the U.S., we have enhanced our ability to deliver and
integrate critical hardware with control systems which makes Curtiss-Wright
the partner of choice in coker systems globally."
VSC has been a long-standing partner with DeltaValve, a business unit of
Curtiss-Wright Flow Control, delivering critical valve, automation and control
system products for the delayed coke deheading process in oil refineries. VSC
is the exclusive channel to market for DeltaValve products for North and South
America and has been a driving factor in DeltaValve's growth. In addition,
VSC provides valve automation, process control and protection technology,
project engineering and aftermarket field services to related secondary
refining processes, oil production platforms and storage facilities, liquefied
natural gas (LNG) terminals and storage facilities, natural gas pipeline
operations, and power generation facilities.
Founded in 1974, VSC, sales in 2007 are expected to be approximately $60
million. VSC's customers include virtually all of the well known engineering
contractors and integrated oil and gas companies, with a primary focus in
North and South America. VSC has 65 employees and is headquartered in Houston,
TX, with small satellite offices in Baton Rouge, LA, and Seoul, South Korea.
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 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 and is the Flow Control operating segment of Curtiss-Wright Corp.
(NYSE: CW) headquartered in Roseland, NJ. For more information, visit
www.cwfc.com.
CONTACT: Alexandra M. Deignan of Curtiss-Wright Corporation,
+1-973-597-4734/
/Web site: www.curtisswright.com
www.cwfc.com /
