Curtiss-Wright Signs Contract With Westinghouse for AP1000 Plants in China
ROSELAND, N.J., Sept. 25 -- Curtiss-Wright
Corporation (NYSE: CW) announced today that it has finalized its agreement
with Westinghouse Electric Company LLC to provide reactor coolant pumps (RCPs)
for four AP1000 Generation III+ commercial nuclear power plants to be built in
China. This follows the announcement in July of an agreement in principle with
Westinghouse to supply pump hardware as well as a separate technology transfer
contract with China's State Nuclear Power Technology Corporation (SNPTC).
Curtiss-Wright's Electro-Mechanical Corporation (CW-EMD), part of its Flow
Control segment, will produce most of the pumps at its Cheswick, PA, facility
as well as provide local oversight at the customer's facilities in China. The
project covers the construction of four nuclear power plants in China at sites
in Sanmen and Haiyang. The reactors will be Westinghouse's AP1000 design and
will be 1100 megawatts each. CW-EMD has agreed to supply Westinghouse 18
reactor coolant pumps which will include some localized manufacturing with
Chinese partners.
"This is the beginning of a dramatic shift in the global approach to
increasing energy supply worldwide," said Curtiss-Wright Chairman and CEO
Martin R. Benante. "The continued supply constraints and environmental
concerns attributed to our current dependence on fossil fuels have led to a
reassessment of the value of nuclear technology as the most efficient and
environmentally friendly source of energy available today. In addition, we
are very proud to be participating in this nuclear accord with China and with
Westinghouse on the AP1000 new advanced nuclear plant design. This effort
advances our leadership in this critical technology while meeting the energy
needs of the Chinese population."
Curtiss-Wright will host an investor presentation in Washington, D.C. on
September 27, 2007 from 2:00 - 5:00 p.m. EDT. The presentation will provide
an overview of its energy businesses as well as a financial summary of the
AP1000 award. Martin R. Benante, Chairman and CEO will host the event which
will include presentations by Curtiss-Wright's senior management.
Interested parties can go to the Investor Relations section of the
Curtiss-Wright website where a webcast and slides for the presentation will be
available on the day of the event. Please go to www.curtisswright.com.
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 7,000 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 more than 2,600
employees worldwide and is the Flow Control operating segment of Curtiss-
Wright Corp. For more information, visit www.cwfc.com.
