Curtiss-Wright to Acquire Safran Aerosystems Arresting Company
Summary
DAVIDSON, N.C.--(BUSINESS WIRE)--Curtiss-Wright Corporation (NYSE: CW) today announced that it has entered into an agreement to acquire the assets that comprise the Safran Aerosystems Arresting Company (SAA) for $240 million in cash. The combination provides an opportunity to leverage our long-standing relationships with leading defense customers supporting critical defense platforms, such as the F-35, and is expected to yield significant opportunities for revenue growth, including increased foreign military sales.” “Building on our successful acquisition track record, SAA’s critical safety systems have a strong alignment to our strategic priorities as highlighted at our 2021 investor day.” Through its predecessor companies, SAA created the first aircraft arresting system in 1960. Building on the heritage of Glenn Curtiss and the Wright brothers, Curtiss-Wright has a long tradition of providing reliable solutions through trusted customer relationships. 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 managements beliefs and assumptions. 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.