Curtiss-Wright Awarded Contract by Parker Hannifin

TO SUPPLY AFT STRUT FAIRING HYDRAULIC MODULE FOR BOEING 787

PARSIPPANY, N.J., July 27, 2011 (GLOBE NEWSWIRE) -- Curtiss-Wright Corporation (NYSE:CW) today announced that it has been awarded a contract by Parker Hannifin for structural development, assembly and test of the aft strut fairing hydraulic module for use on the Boeing 787 airplane. The contract extends an existing agreement for the manufacture of this product through the end of 2021. The combined value of the contract and prior agreements over the lifetime of the platform is estimated to be approximately $112 million.

"Curtiss-Wright is very pleased to extend our agreement with Parker Hannifin to provide further production support for the Boeing 787," said Martin R. Benante, Chairman and CEO of Curtiss-Wright Corporation. "Our expanded manufacturing integration services will help deliver the greater efficiencies needed for manufacturing next-generation aircraft."    

The aft strut fairing hydraulic module is a preassembled package of hydraulic system components that comprise a proprietary structural frame developed by Curtiss-Wright and hydraulic system components developed by Parker Hannifin. Production of the aft strut fairing hydraulic module represents the addition of a new integration capability to Curtiss-Wright's broad range of products and services.

Under the contract, Curtiss-Wright will perform the structural development of the aft strut fairing hydraulic module at its Motion Control facility in Shelby, NC. Parker Hannifin, the system integrator and contract holder for the Boeing 787 aircraft, will provide the hydraulic system equipment, including reservoirs, accumulators and filtration equipment manufactured at its Hydraulic Systems Division, Kalamazoo, MI, and fluid conveyance equipment manufactured at its Stratoflex Division, Fort Worth, TX for assembly onto the aft strut fairing hydraulic module structure at Curtiss-Wright.

Curtiss-Wright first delivered flight control actuation components to Boeing that built the foundation of this long-term agreement in the 1960s, starting with trailing edge flap actuators for the 737 platform. Since then, the business has grown to include components on all Boeing commercial aircraft as well as Boeing military aircraft.

ABOUT CURTISS-WRIGHT CORPORATION

Curtiss-Wright Corporation is an innovative engineering company that provides highly engineered, critical function products, systems and services in the areas of flow control, motion control and metal treatment to the defense, energy and commercial/industrial markets. The legacy company of Glenn Curtiss and the Wright brothers, Curtiss-Wright has a long tradition of design and manufacturing innovation along with long-standing customer relationships. The company employs approximately 8,400 people worldwide. For more information, visit curtisswright2014.q4web.com.

The Curtiss-Wright Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7709

ABOUT CURTISS-WRIGHT MOTION CONTROL SEGMENT

Curtiss-Wright Controls, Inc., headquartered in Charlotte, NC, is the Motion Control business segment of Curtiss-Wright Corporation. This business segment designs and manufactures complex motion control components, systems and subsystems for very specialized defense, commercial aerospace and general industrial applications. For more information, visit www.cwcontrols.com

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 Corporation's expectations of future performance of our work, the value of the contract, the continued relationship with an existing customer, the successful implementation and funding of this commercial program and future opportunities associated with this program, 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.    

CONTACT: Jim Ryan (973) 541-3766