SOURCE: Curtiss-Wright Flow Control

Curtiss-Wright Flow Control

September 17, 2013 09:15 ET

Curtiss-Wright Flow Control Acquires Gulf33

Provider of Valve Repair and Maintenance Services Expands Company's Oil and Gas Service Offering Into Offshore Market

CHARLOTTE, NC--(Marketwired - Sep 17, 2013) - Curtiss-Wright Flow Control Company (CWFC) announced today that it has acquired the assets of Gulf33 VALVE PROS, LLC (Gulf33) for $4 million in cash. Gulf33 is a Louisiana limited liability company that provides valve repair and maintenance services to the offshore oil and gas market. Gulf33's customers include the largest offshore platform operators in the Gulf of Mexico.

This acquisition will be integrated into GROQUIP, a business unit of the Oil & Gas division of CWFC. Gulf33 and GROQUIP's Offshore Group will be consolidated into a facility in Houma, L.A. Merging the two companies will increase Curtiss-Wright's overall service offering, while improving our customers' experience.

"The acquisition of Gulf33 complements our recent diversification into the upstream oil and gas market," said David C. Adams, President and CEO of Curtiss-Wright Corporation. "Furthermore, this synergy of service capabilities expands our offering to existing and new customers in these markets."

Curtiss-Wright continues to expand its position in the offshore oil and gas service market by increasing our service offerings and qualifications to bid on expanded and new Master Service Agreements. The combined valve services will offer E&P customers a full array of offshore, onshore, repair and testing capabilities, with maximized utilization of technicians deployable during turnarounds

About Curtiss-Wright Flow Control Company
Curtiss-Wright Flow Control (CWFC) 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, a range of critical national defense programs and the industrial controls market. CWFC's innovative, high performance products are installed on submarines and aircraft carriers owned by the U.S. Navy and set the standard for safety, quality and reliability in the operation of power plants and other industrial sites worldwide. Based in Charlotte, N.C., the company has more than 3,400 employees worldwide. For more information, visit www.cwfc.com.

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 and prides itself on long-standing customer relationships. The company employs approximately 10,000 people worldwide. For more information, visit www.curtisswright.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 Gulf33, the future opportunities associated with the acquisition, and the success of the Company integrating Gulf33 into its Flow Control 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 Information

  • Contact:
    Jim Ryan
    Curtiss-Wright Corporation
    (973) 541-3766