PARSIPPANY, N.J., Jan. 3, 2013 (GLOBE NEWSWIRE) -- Curtiss-Wright Corporation (NYSE:CW) announced today that it has acquired the assets of F.W. Gartner Thermal Spraying, Ltd., ("Gartner") of Houston, TX; a leading provider of wear and abrasion resistant coatings for energy and power generation applications. Established in 1923, Gartner has been a pioneer in the application of thermal spray protective coatings that extend the life of severe service industrial components. Gartner also provides laser cladding, precision weld repair and machining/finishing services to complement its thermal spray coating capabilities.
"The acquisition of F.W. Gartner strengthens our position within the highly engineered thermal spray coatings market. Its location in the center of the United States energy market and expertise in the application of wear resistant coatings complements our existing thermal barrier spray coating business serving the aerospace and industrial markets", said Martin R. Benante, Chairman and CEO of Curtiss-Wright Corporation. "We intend to leverage the significant cross synergies that exist between our thermal spray businesses and also capitalize on worldwide growth opportunities for Gartner's technologies."
Thermal spray coatings are utilized to protect and enhance a broad variety of critical components used in demanding industries such as aerospace, energy exploration, petrochemical processing, mining and power generation. Gartner applies its thermal spray coatings using a variety of techniques, including high velocity oxygen fuel (HVOF), plasma spray and flame spray, to tailor the coatings for specific end use properties.Gartner has approximately 115 employees at two ISO 9001 accredited facilities in the Houston, TX area and had sales of approximately $24 million in 2012. Going forward, the facilities will continue to do business as F.W. Gartner Thermal Spraying, Ltd. as part of the Curtiss-Wright Surface Technologies (formerly Metal Treatment) business segment. About Curtiss-Wright Corporation Curtiss-Wright Corporation is an innovative engineering company that provides highly engineered, critical function products, systems and services in the areas of flow control, motion control and surface treatment technologies to the defense, energy and commercial/industrial markets. The legacy company of Glenn Curtiss and the Wright brothers, Curtiss-Wright has a long tradition of design and manufacturing innovation along with long-standing customer relationships. The company employs approximately 9,700 people worldwide. For more information, visit www.curtisswright.com . The Curtiss-Wright Corporation logo is available a http://www.globenewswire.com/newsroom/prs/?pkgid=7709 About Curtiss-Wright Surface Technologies Segment The Curtiss-Wright Surface Technologies ("CWST") business segment provides precision shot peening, laser peening, engineered coating and analytical testing services to the aerospace, power generation, transportation and other demanding general industrial markets through a global network of 70 locations. For more information, visit www.cwst.com . This press release contains forward-looking statements made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995 that are based on management's beliefs and assumptions. Such statements, including statements relating to Curtiss-Wright Corporation's expectations for the future performance of F.W. Gartner, the future opportunities associated with this acquisition, and the success of the Company integrating F.W. Gartner into its Surface Technologies segment, are not considered historical facts and are considered forward-looking statements under the federal securities laws. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Such risks and uncertainties include, but are not limited to: a reduction in anticipated orders; an economic downturn; changes in competitive marketplace and/or customer requirements; a change in US government spending; an inability to perform customer contracts at anticipated cost levels; and other factors that generally affect the business of aerospace, defense contracting, marine, electronics and industrial companies. Please refer to the Company's current SEC filings under the Securities Exchange Act of 1934, as amended, for further information.
CONTACT: Jim Ryan (973) 541-3766
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV