Curtiss-Wright Acquires IMC Magnetics Corporation
Expands Leadership in Commercial Aerospace Controls
ROSELAND, N.J., Sept. 4 -- Curtiss-Wright
Corporation (NYSE: CW) announced today that it has acquired the stock of IMC
Magnetics Corporation for approximately $37.5 million in cash. IMC produces
solenoids, fans, motors and specialized products for numerous aerospace,
commercial and industrial applications. The business will become part of
Curtiss-Wright's Motion Control segment.
With a portfolio of over 7,000 different solenoid and solenoid valve
designs, IMC's products are used by leading OEMs in a variety of applications
such as fuel control systems, engine bleed, landing gear, wheel brake systems,
and aircraft hydraulic directional controls. Additionally, the company's
strong capability in fans and motors has produced multiple designs and
products such as DC brushless fans, induction motors, tube axial fans, vane
axial fans, centrifugal fans and blowers, and mixed flow fans.
"The addition of IMC Magnetics expands Curtiss-Wright's leadership in the
integrated sensing arena," said Curtiss-Wright Chairman and CEO Martin R.
Benante. "IMC brings exciting new technology and further diversifies our
product offerings in the aerospace, defense and industrial markets. Their
operations will also provide an additional manufacturing resource for numerous
products in our portfolio."
Founded in 1951, IMC's successful development of products to customer-
specified performance requirements has resulted in a substantial customer
base, including Honeywell, Northrop Grumman, Lockheed Martin, General
Dynamics, and Boeing. Sales in 2007 are expected to be approximately $26
million.
Headquartered in Tempe, AZ, IMC employs approximately 220 people and has a
production facility in Nogales, Mexico.
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 Controls, Inc.
Headquartered in Charlotte, North Carolina, Curtiss-Wright Controls is the
Motion Control segment of Curtiss-Wright Corporation. With manufacturing
facilities around the world, Curtiss-Wright Controls is a leading technology-
based organization providing niche motion control products, subsystems and
services internationally for the aerospace and defense markets. For more
information, visit www.cwcontrols.com
