 |
||||||||||
|  |
 |
CURTISS-WRIGHT CONTROLS, INC. COMPLETES ACQUISITION OF VMETRO Expands product range and increases worldwide presence for embedded computing products Charlotte, N.C., – Oct. 15, 2008 – Curtiss-Wright Controls, Inc. announced today that it has acquired VMETRO ASA (Oslo: VME) for approximately $72 million. VMETRO is a leading supplier of commercial off-the-shelf (COTS) board- and system-level embedded computer products for applications in aerospace, defense, industrial, communication and medical markets. The business will be organized under Curtiss-Wright Controls’ Embedded Computing group. “The addition of VMETRO raises Curtiss-Wright’s leadership position in the aerospace and defense embedded computing market,” said Curtiss-Wright Controls President David Adams. “VMETRO’s engineering expertise and broad product offerings in key market areas, as well as their strong UK and European presence, will significantly expand Curtiss-Wright’s ability to serve customers worldwide.” The acquisition of VMETRO, one of the oldest and largest independent COTS aerospace and defense vendors, will further enhance Curtiss-Wright Controls’ leadership position in a wide range of embedded product categories including high performance real-time processing, digital signal processing (DSP), high-density radar processing, data communications, data recording, and network storage systems. In addition, VMETRO’s strong UK and European sales teams which operate under the brand VSYSTEMS will help to speed the growth of Curtiss-Wright Controls’ business in those markets. Founded in 1986, VMETRO operates globally with headquarters and principal engineering in Oslo, Norway. Additional sales, engineering and distribution networks are established in Sweden, Germany, France, Italy, the U.S. and Asia. The company employs approximately 200 people. About Curtiss-Wright Controls Embedded Computing About Curtiss-Wright Controls, Inc. -------------------------------------------- Forward-looking statements in this release are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. 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 the competitive marketplace and/or customer requirements; an inability to perform customer contracts at anticipated cost levels; a change in government spending; and other factors that generally affect the business of aerospace, defense contracting, marine electronics and industrial companies. Please refer to the current SEC filings for Curtiss-Wright Corporation under the Securities and Exchange Act of 1934 as amended for further information. Note: All trademarks are property of their respective owners. For a pdf version of this release click here.
|