Industry News

Curtiss-Wright Takes Over CCRS, a Supplier of Anti-corrosion Coatings & Component Repairs Services

Published on 2014-01-30. Author : SpecialChem

CHARLOTTE, N.C. -- Curtiss-Wright Corporation announced that it has completed the acquisition of 100% of the shares of Component Coating and Repair Services Limited ("CCRS") for approximately £15 million (approximately $25 million) in cash, net of cash acquired. CCRS is one of the leading UK providers of ultra-smooth and corrosion resistant coatings and precision airfoil repair services for aerospace and industrial turbine applications. The acquired business will operate within Curtiss-Wright's Commercial/Industrial segment.

"The acquisition of CCRS adds new high-technology services to our Surface Technologies business that complement those of our existing engineered coatings offerings," said David C. Adams, President and CEO of Curtiss-Wright Corporation. "This is consistent with our stated acquisition strategy to target smaller, strategic, bolt-on companies that we believe will enable us to achieve our objectives of margin expansion, strong cash generation and solid returns. We intend to leverage the synergies that exist between our coatings businesses, while also supporting Surface Technologies' strategic objective to advance up the technological chain and expand the breadth of their technology and customer bases. Further, these technologies can be bundled with Curtiss-Wright's existing thermal spray and shot peening technologies to create additional opportunities for technology insertion into our worldwide service network."

Founded in 1995, CCRS currently operates two divisions within the United Kingdom. The Glasgow, Scotland facility specializes in the application of sacrificial aluminum coatings for aerospace turbine engines. A second facility based in Alfreton, England focuses on turnkey component repairs for Industrial Gas Turbines utilized in power generation and oil and gas applications. Both facilities have excellent reputations with their original equipment manufacturer (OEM) customer base for providing high quality service and fast turntimes.

CCRS has approximately 100 employees and is expected to generate sales of approximately £7 million (approximately $11 million) in 2014. About Curtiss-Wright Corporation

About Curtiss-Wright Corporation

Curtiss-Wright Corporation (NYSE:CW) is a global innovative company that delivers highly engineered, critical function products and services to the commercial, industrial, defense and energy markets. Building on the heritage of Glenn Curtiss and the Wright brothers, Curtiss-Wright has a long tradition of providing reliable solutions through trusted customer relationships. The company employs approximately 10,000 people worldwide.

About CCRS

Component Coating Services Ltd (In Glasgow) and Component Repair Services Ltd. (In Alfreton) previously a privately owned company, now part of the Curtiss-Wright Corporation. CCRS offers Specialized Processes, Coating Systems, New Manufacture and Repairs to the Gas Turbine Industry. Established in 1995 they have grown to become a highly reliable and innovative service company to the Gas Turbine and Aerospace Industries. Their work force, of over 100, is highly skilled and has many years’ experience in the development of repairs and coating processes. They pride ourselves on meeting our Customers’ individual and ever more demanding needs. They are renowned for providing a consistently fast response while continuing to maintain the highest standards of quality and engineering.

Source: Curtiss-Wright Corporation

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