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Curtiss-Wright Acquires Everlube Products

Published on 2004-04-16. Author : SpecialChem

 

Curtiss-Wright Corporation (NYSE: CW; CW.B) announced on April, 2, 2004, the acquisition of selected assets of the Everlube Products Division of Morgan Advanced Ceramics Inc. ("Everlube Products") for approximately $6.4 million. Everlube Products will operate as part of the Metal Treatment segment of Curtiss-Wright Corporation.

Everlube Products is a pioneer and leader in manufacturing solid film lubricant (SFL) and other specialty engineered coatings with more than 180 formulations available. Everlube coatings include well-known, proprietary brands such as Everlube®, EverSlik (R), Lube-Lok®, Lubri-Bond®, Perma- Slik®, Kal-Gard®, Electrobond®, Electrolube®, Formkote®, Henderlube(TM), Ecoalube(TM), Esnalube(TM), and Henco-Mask(TM). The company is located in Peachtree, GA and had 2003 sales of approximately $3.9 million.

Everlube Products' engineered coatings improve the functional performance of metal components in lubrication, temperature and corrosion resistance. The coatings are developed for use in high performance, niche applications and are generally either "approved for use" or "specified" after extensive testing and evaluation by a customer. Customers include original equipment manufacturers (OEMs), commercial metal finishers and distributors for use in aerospace, automotive, general industrial, electronic, military and medical applications. Everlube coatings are extensively specified by OEMs, with more than 1,000 specifications currently active. In addition, many military and US Department of Defense agencies have qualified Everlube coatings.

"The Everlube Products acquisition is an integral piece of our strategy to provide high performance metal treatment products and services to our customers," said Martin R. Benante, Chairman and CEO of Curtiss-Wright. "In addition, it provides further diversification of our traditional shot peening and heat treating services while staying within our core business of specialized metal treatment services."

About Curtiss-Wright

Curtiss-Wright Corporation is a diversified company headquartered in Roseland, New Jersey. The Company designs, manufactures and overhauls products for motion control and flow control applications, and provides metal treatment services. The firm employs approximately 4,500 people worldwide.

About Our Metal Treatment Segment

Curtiss-Wright's Metal Treatment segment provides precision metal finishing services, including shot peening, shot peen forming, laser peening, heat treating, specialty coatings, reed valve manufacturing and wet finishing. Its customer base includes the commercial aerospace, automotive, power generation and processing industries. The Company operates 54 metal treatment facilities in North America and Europe.

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 competitive marketplace and/or customer requirements; a change in 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, and industrial companies. Please refer to the Company's current SEC filings under the Securities and Exchange Act of 1934, as amended, for further information.

Source: Curtiss-Wright Corporation


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