Curtiss-Wright Awarded Contract by Rheinmetall BAE Systems Land (RBSL) to Supply Aiming and Stabilization System for British Army Challenger 3 Main Battle Tanks

DAVIDSON, N.C.--(BUSINESS WIRE)--Curtiss-Wright Corporation (NYSE: CW) today announced that it has been awarded a contract by Rheinmetall BAE Systems Land (RBSL) to provide its turret drive stabilization technology for use in the weapons system on the British Army's Challenger 3 Main Battle Tank.

Under the contract, valued at approximately $25 million, Curtiss-Wright will supply RBSL with its cost-effective, scalable Turret Drive Servo System (TDSS) and other system components in support of the UK MOD's tank upgrade program.

“Curtiss-Wright’s selection on this significant ground vehicle upgrade program highlights RBSL's trust in Curtiss-Wright's turret drive stabilization technology and exemplifies our position as a leader in aiming and stabilization solutions to the global defense industry,” said Lynn M. Bamford, President and CEO of Curtiss-Wright Corporation. “Furthermore, our defense electronics technology brings new levels of stability, reliability and high-precision motion control to the ground vehicle market. We look forward to continuing our support of RBSL’s development of the Challenger 3 program.”

Curtiss-Wright's TDSS aiming and stabilization system will provide the Challenger 3 with the ability to maintain target location accuracy and precise turret stabilization, even while moving at full speed. The TDSS uniquely enables system designers to upgrade and add stabilization functionality as mission requirements change, allowing system integrators to choose the right level of motion control and stability for the platform.

“The turret motion system provided by Curtiss-Wright will be fundamental to the operation of the tank, and our two companies have worked closely together for several years to ensure Challenger 3 would benefit from this impressive capability,” said Dr Marco Noeding, RBSL Managing Director. “We are very pleased to achieve this latest milestone and look forward to commencing the next phase of our relationship through the demonstration, manufacture and through-life.”

About the Challenger 3 Main Battle Tank

The British Army’s upgraded Challenger 3 vehicle will be a network-enabled, digital Main Battle Tank with state-of-the-art lethality, upgraded survivability, and world-class surveillance and target acquisition capabilities. The new turret structure and improved survivability systems provide the highest standard of protection for the crew. The long-range commander and gunner primary sights will include automatic target detection and acquisition. This solution also provides significant growth potential in all Main Battle Tank key capability areas with the new physical, electronic and electrical architecture.

About Curtiss-Wright Corporation

Curtiss-Wright Corporation (NYSE:CW) is a global integrated business that provides highly engineered products, solutions and services mainly to Aerospace & Defense markets, as well as critical technologies in demanding Commercial Power, Process and Industrial markets. We leverage a workforce of 7,800 highly skilled employees who develop, design and build what we believe are the best engineered solutions to the markets we serve. Building on the heritage of Glenn Curtiss and the Wright brothers, Curtiss-Wright has a long tradition of providing innovative solutions through trusted customer relationships. For more information, visit www.curtisswright.com.

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This press release contains forward-looking statements made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements, including statements relating to Curtiss-Wright’s expectations of a continued relationship with an existing customer, the continued funding and success of this ground vehicle program, the performance of its products in this program, and the potential value associated with this contract, 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 and Foreign 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.