Profile: Curtiss-Wright Corp (CW.N)

CW.N on New York Stock Exchange

26 Dec 2014
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Curtiss-Wright Corporation, incorporated in 1929, is a diversified, multinational provider of engineered, technologically advanced products and services. The Company designs and manufactures engineered, advanced technologies that perform critical functions in demanding conditions in the defense, power generation, oil and gas, commercial aerospace, and general industrial markets. The Company operates through three segments: Flow Control, Motion Control, and Metal Treatment. Its principal manufacturing facilities are located in the United States in California, New York, North Carolina, Pennsylvania, and Texas, and internationally in Canada and the United Kingdom. On December 2, 2011, it acquired Anatec International, Inc, and Lambert, MacGill, Thomas, Inc. (Anatec and LMT). On April 6, 2011, it acquired Douglas Equipment Ltd. (Douglas). On July 29, 2011, it sold the assets of the distribution business within in its oil and gas division to McJunkin Red Man Corporation. In April 2012, the Company sold its heat treating business to Bodycote plc. In April 2012, it acquired the Versatile Measuring Instruments (VMI) and Lisle-Metrix (L-M) product lines from the Amidyne Group. In November 2012, Spirent Communications Plc completed the sale of the assets and liabilities of its Systems Division, which trades as PG Drives Technology, to the Company. In November 2012, the Company acquired AP Services, LLC. In November 2012, the Company acquired Cimarron Energy Inc. In January 2013, the Company acquired Exlar Corporation. In January 2013, the Company acquired the assets of F.W. Gartner Thermal Spraying, Ltd. In March 2013, it completed the acquisition of 100% interest of Phonix Holding GmbH. In October 2013, the Company acquired Parvus Corporation, a business unit of Eurotech S.p.A. In October 2013, Curtiss-Wright Corp announced that Curtiss-Wright Flow Control Company acquired the assets of Ovalpath, Inc. In October 2013, the Company announced that it has completed the acquisition of 100% interests of Arens Controls, LLC. In January 2014, Curtiss-Wright Corporation completed the acquisition of Component Coating and Repair Services Limited. In February 2014, Curtiss-Wright Corp completed the acquisition of the assets of Nuclear Power Services Inc.

On January 7, 2011, it acquired Predator Systems, Inc. (PSI). On April 8, 2011, it acquired certain assets of BASF Corporation’s Surface Technologies (BASF). On July 22, 2011, the Company acquired IMR Test Labs (IMR). On September 29, 2011, it sold the assets of the Hydrop suspension business, a product line of Curtiss-Wright Antriebstechnik GmbH (CWAT) in Switzerland, to Stromsholmen AB, a subsidiary of the Barnes Group. On October 11, 2011, it acquired the South Bend Controls (SBC). On July 28, 2011, it acquired ACRA Control Ltd. (ACRA). During the year ended December, 31, 2011, the Integrated Sensing division acquired the assets of South Bend Controls, a designer and manufacturer of engineered, solenoid-based components used in critical applications across multiple markets.

Flow Control

Flow Control segment primarily designs, manufactures, and distributes engineered, critical-function products including valves, pumps, motors, generators, instrumentation, shipboard systems, super vessels, and control electronics. These products manage the flow of liquids and gases, generate power, provide electronic operating systems, and monitor or provide critical functions. In the naval defense market, the Company is a supplier to the United States Navy for an array of ship building programs, including the nuclear aircraft carrier and submarine programs, offering power and propulsion technologies, instrumentation and control systems, auxiliary systems, and shipborne aircraft and helicopter landing systems. The Flow Control segment operates through four operating divisions: Electro-Mechanical Systems, Nuclear Group, Oil and Gas Systems, and Marine and Power Products.

Electro-Mechanical Systems division produces advanced electro-mechanical and pumping solutions for the naval defense, power generation, oil and gas, and other general industrial markets. The division designs and manufactures advanced critical function pumps, motors, generators, ship propulsors, mechanical seals, control rod drive mechanisms, power conditioning electronics, pulse power supplies, integrated motor controls, composite materials applications, and protection technologies solutions. This division develops, designs, manufactures, and performs qualification testing of critical-function, electro-mechanical solutions for its primary customer, the United States Navy, including coolant pumps, various other critical-function pumps, power-dense compact motors, main and ship service generators, secondary propulsion systems, and design engineering and testing services. The division is a supplier or sole source provider of pumps that are used in the nuclear propulsion system. The division also overhauls and provides critical spares for units serving the fleet on operational platforms. Its platforms include the Nimitz and Ford class aircraft carriers and the Virginia, Los Angeles, Seawolf, and Ohio Class submarines. The Company has also received funding for engineering and component development on the next generation Ohio Class Replacement submarine program.

Electro-Mechanical Systems’ products are also sold to commercial markets, primarily nuclear power generation and oil and gas. In the general industrial market, it designs, develops, and manufactures integrated motor-controls and protection technology solutions for original equipment manufacturers (OEMs) and industrial customers. Custom panel solutions include a variety of low and medium voltage components, such as starters, drives, contactors, breakers, and other related devices. Its installed base of over 100,000 control units with hundreds of custom designed systems supports customers in the industrial heating, ventilation, and air conditioning (HVAC) market, as well as in the municipal services and energy processing markets, including petrochemicals, power generation, mining, and transportation.

The Nuclear Group division designs, manufactures, distributes, and qualifies flow control products for nuclear power plants, nuclear equipment manufacturers, hydroelectric energy producers, the DoE, and the United States Department of Defense (DoD). This division offers a range of critical hardware, including pumps, valves, pressure vessels, fastening systems, specialized containment doors, airlock hatches, and electrical units. In addition, it provides a range of critical services including bolting solutions, nuclear storage solutions, spent fuel solutions, and enterprise resource planning. The Company provides diagnostic equipment, consulting, inspection, and testing services that help support plant-life extensions and power upgrades on all 104 operating reactors in the United States, as well as operating reactors located throughout the world. Anatec and LMT, both of which perform testing and inspection services for commercial nuclear power plants to ensure safety, operational soundness, and compliance with regulatory codes. Anatec and LMT provide technologies and techniques for non-destructive examination (NDE) and testing of systems and components in nuclear power plants.

The Company’s Oil and Gas Systems division designs and manufactures valves and vessel products for the oil and gas refining market. Primary products include coke unheading systems, fluidic catalytic cracking unit (FCCU) components, relief valves, pressure protection systems, super vessels, and engineering design tools for therefining, chemical and process industries, and Web-enabled control systems for refinery monitoring and process control. Its coke unheading system, which includes top and bottom unheading valves, isolation valves, cutting tools, and valve automation, process control, and protection systems, enables safer coke drum operation during the refining process. Included in this portfolio of products is the coke-drum unheading valve, an advancement in coke- drum unheading technology.

The Company also offers a delayed coker operations optimization system featuring process control, interlocks, valve control solutions, batch process data acquisition, interactive operator batch sequence procedures, batch scheduler, batch sequence editor, risk management, asset protection, and predictive maintenance capabilities. Its FCCU product portfolio includes custom-designed valves, engineered pressure vessels, and complementary components that operate in industrial process applications, including fluid, residual, and catalytic cracking units as well as power generation, steel manufacture, and ore reduction. The Company manufactures, repair, and modify orifice chambers, hydrotreaters, and ASME code pressure vessels. In addition, it provides an array of field services, including equipment repair, modification, or replacement; inspection of valves, controls, pipes, and refractory linings; maintenance planning and scheduling for valves or control systems; diagnostic assistance with troubleshooting problems in critical components; and on-site system training. During the year ended December 31, 2011, it opened a manufacturing facility to build thick-walled vessels (called super vessels which include coke drums, fractionators, reactors, regenerators, hydrotreaters, and fluid catalytic cracking units) for the refining, petrochemical, and nuclear power industries. In addition, it provides inspection, installation, repair and maintenance, and other field services for harsh environment flow control systems.

The Company’s Marine and Power Products division produces high-performance, specialized valve solutions, designs and manufactures electro-mechanical systems, and develops, manufactures, and services specialized electronic instrumentation and control equipment. Its valve solutions control the flow of liquids and gases for vessels, and equipment for the defense, power generation, and general industrial markets. The Company designs, engineers and manufactures spring-loaded, pilot-operated pressure relief valves and solenoid operated valves, as well as ball valves used in standard and advanced applications, including high-cycle, high-pressure, extreme temperature, and corrosive plant environments. Its valves are utilized in the nuclear propulsion system of virtually every nuclear submarine and aircraft carrier commissioned by the United States Navy. Its programs include the Virginia class submarine and Ford class aircraft carriers. In addition, it provides spares and repair work for various submarine classes, such as Los Angeles and Ohio, as well as the Nimitz class aircraft carriers.

The division also designs and manufactures electro-mechanical systems for securing and traversing military aircraft and helicopters aboard naval vessels. These shipboard aircraft and helicopter handling systems are used by the United States Navy, United States Coast Guard, and more than ten other navies around the world. In support of embarking helicopters onboard naval ships, it also produces aviation lighting and guidance systems and in-deck tie-downs and tracks. The Company also designs and builds shipboard specialized structures, including telescopic hangars and doors. Specialized cable handling systems are designed and manufactured for towing active and passive sonar systems for both submarines and surface ships. For commercial markets, it provides specialized valves to commercial nuclear power plants, oil and gas refineries, production platforms and pipelines, and general processing industries worldwide. It also provides towbarless and conventional aircraft handling systems to the commercial aerospace industry. General industrial products include hydraulic power units and components primarily for the automotive and the entertainment industries and specialty hydraulic valves, air-driven pumps, gas boosters, and directional control valves used in industrial applications, such as car transport carriers. Competition is based upon quality of technology, price, installed base, and delivery times.

The Marine and Power Products division also develops, manufactures, tests, and services specialized electronic instrumentation and control equipment, including instrumentation for primary and secondary controls, steam generator control equipment, valve actuators, and valve and heater controls. This division provides custom designed and commercial-off-the-shelf (COTS) electronic circuit boards and systems to the United States Navy. It also provides advanced valve controllers and predictive maintenance systems for the oil and gas and general industrial market. The division also provides engineering and support services.

Motion Control

Motion Control segment designs, develops, manufactures, and maintains, high-performance mechanical actuation and drive systems, specialized sensors, motors, and electronic controller units, and mission-critical embedded computing components and control systems. Its Motion Control segment is managed through three operating divisions: Embedded Computing, Flight Systems, and Integrated Sensing. The segment has a global customer base with principal manufacturing operations throughout the United States, Canada, and Europe.

The Company’s Embedded Computing division designs, develops, and manufactures rugged embedded computing board-level modules and integrated subsystems, primarily for the aerospace and ground defense markets, and supports the United States Government’s Command, Control, Communications, Computers, Intelligence, Surveillance, and Reconnaissance (C4ISR) applications. Using standard, commercially available electronics technologies, coupled with application-domain specific knowledge, it offers COTS hardware and software modules based on open industry standards. It also offers high performance electronic packaging and thermal management systems using custom and standards-based enclosures.

The Company’s advanced subsystems are integrated using standard modules and custom modules based on in-house intellectual property content as well as third-party technology. It also offers an array of support services that include life-cycle management, technical support, training, and custom engineering of modules and integrated subsystems. The Company is a source supplier for high-density radar processing, data communications, digital signal processing, video and graphics, recording and network storage, analog acquisition and reconstruction, radar, and integrated subsystems. Its COTS modules and integrated subsystems are designed to perform in harsh conditions where space, weight, and power constraints are critical.

Embedded Computing’s subsystem products are used in a variety of mission-critical applications for military ground vehicles, including fire control, aiming, and stabilization, munitions loading, and environmental processors. These products are used on combat platforms such as the Bradley Fighting Vehicle, the Abrams Tank, and the Stryker family of vehicles. Its modules, featuring commercial processors on open standard board architectures, are used in numerous active programs, including the Improved Bradley Acquisition System and the Improved Tow Acquisition System. Embedded Computing supports technologically advanced military platforms, including the F-35 JSF, P-8 Poseidon, and United States Marine Corps’ Ground/Air Task Orientation Radar program. Embedded Computing also provides the advanced mission management system, flight control computers, and the sensor management units for advanced aerospace platforms including the Global Hawk, the United States Air Force’s high-altitude and high-endurance unmanned aerial vehicle, as well as the United States Navy’s Broad Area Maritime Surveillance (BAMS) variant of the Global Hawk platform. The division’s products are manufactured at its operations located in North America and Europe. Its products are sold primarily to prime contractors and subsystem suppliers located principally in the United States, United Kingdom, and Canada, both directly and through a network of independent sales representatives.

The Company’s Flight Systems division’s product offerings to the commercial OEM and aerospace defense markets consist of electro-mechanical and hydro-mechanical actuation control components and systems that are designed to position aircraft control surfaces or operate flaps, slats, and utility systems, such as canopies, cargo doors, weapons bay doors, or other moving devices used on aircraft. Aircraft applications include actuators and electro-mechanical control systems for the Boeing 737, 747, 747-8, 757, 767, 777, and 787 civil air transports, the Lockheed Martin F-16 Falcon fighter jet, the Boeing F/A-18 Hornet fighter jet, the P-8 Poseidon, the Bell Boeing V-22 Osprey, and the Sikorsky Black Hawk and Seahawk helicopters. The Flight Systems division is also developing flight control actuators and weapons handling systems for Lockheed Martin’s F-35 Lightning II Joint Strike Fighter (F-35 JSF) program. The F-35 JSF is the next-generation fighter aircraft being designed for use by all three branches of the United States military, as well as by several foreign governments. This division also provides commercial airlines, the military and general aviation customers with component overhaul and repair of hydraulic, mechanical, and electro-mechanical components and component exchange services for an array of aircraft.

Flight Systems also designs, manufactures, and distributes electro-mechanical and electro-hydraulic actuation components and systems and electronic controls for military tracked and wheeled vehicles within the ground defense and commercial markets. These products include turret aiming and stabilization and weapons handling systems for armored military vehicles. In addition, it provides a range of general industrial products, such as fuel control valves for commercial transport ships, stabilization systems, and a variety of commercial servo valves.

The Company’s Integrated Sensing division develops and manufactures a range of sensors, controllers, and electronic control units for commercial, aerospace defense, and general industrial markets. These products include position and smoke detection sensors, solenoids and solenoid valves, cooling fans and motors, torque sensing, ice detection and protection equipment, air data computers, flight data recorders, joysticks, and electronic signal conditioning and control equipment. The division also provides electric motors with controllers, rotary sensors, controllers, and smaller electro-mechanical actuation subsystems for flight, engine, and environmental control for aircraft and space applications. This division’s products are sold primarily to prime contractors and system integrators (both directly and through a network of independent sales representatives) on a worldwide basis. Position sensors are used on primary flight control systems and engine controls on Airbus and Boeing aircraft, notably for the Airbus A320 single-aisle aircraft, as well as regional and business aircraft, and on many United States and European military aircraft. Air data, flight recorder, and ice detection and protection equipment are supplied to many helicopter applications, including the Apache, Blackhawk, Stallion, and Chinook platforms. The Company also sells its products for use in a range of industrial applications, such as off-highway vehicles, powered mobility vehicles, process controls, and motorsports.

Metal Treatment

Metal Treatment segment provides precise metallurgical processing services. The segment’s primary markets are commercial and defense aerospace, oil and gas, power generation, and general industrial markets, including automotive, transportation, construction equipment, and miscellaneous metal working industries. The segment provides five primary technical services on stressed, critical function metal parts: shot peening, specialty coatings, heat treating, laser peening, and analytical services.

Shot peening is a process by which the durability of metal parts is enhanced by bombarding the part’s surface with spherical media, such as steel shot or ceramic or glass beads, to compress the outer layer of the metal. In addition, shot peen forming shapes metal panels with aerodynamic curvatures, which are assembled as wing skins of commercial and military aircraft. The Company conducts shot peen forming on wing panels and other components for Airbus, Boeing, and other aerospace OEMs. Specialty coatings primarily consist of the application of solid film lubricant and corrosion resistant protective coatings to metal components used in critical applications for a broad range of industries. The coatings are applied by either an air spray or a dipping and spinning process for bulk applications. The Company entered the thermal spray coatings arena. Thermal spray coatings are synergistic with its offering of engineered surface technologies services. Its offering includes high velocity oxygen fuel, plasma spray, and flame spray coatings. It also has diversified its capabilities into the medical market by the addition of a vapor deposition process to apply parylene coatings to medical devices, including rubber and silicone seals and wire forming mandrels used in the manufacture of catheters. Parylene coatings provide resistance to solvents and moisture and are biocompatible. Heat treating is a process of exposing metal parts to precisely controlled temperature cycles to change the mechanical and metallurgical properties of the metal. Laser peening is a metal surface treatment process that utilizes a high energy laser developed by the Lawrence Livermore National Laboratory and adapted for use by Metal Treatment engineers. The laser peening process is being used in production to extend the life of critical industrial and flight turbine engine components.

Analytical Services provides mechanical and metallurgical testing services to materials across a range of industries. Material testing is utilized in the on-going quality assurance of raw materials for production manufacturing, as well as for the validation of component designs. Other services that are provided by its Metal Treatment segment include nondestructive inspection, plating, and anodizing. BASF’s Surface Technologies business is a supplier of metallic and ceramic thermal spray coatings which are utilized to protect and enhance a wide variety of critical components used in the aerospace, automotive, power generation, diesel, medical, and general industrial markets. The IMR Test Labs business is a provider of mechanical and metallurgical testing services for the aerospace, power generation, and medical markets. IMR’s complete range of testing capabilities includes fatigue testing, metallurgical analysis, chemical analysis, mechanical testing, failure analysis, and training.

Company Address

Curtiss-Wright Corp

CHARLOTTE   NC   28277
P: +1704.8694602
F: +1973.5413699

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