September 3, 2008
Curtiss-Wright Acquires Parylene Coating Services, Inc.
Roseland, NJ, September 3 – Curtiss-Wright Corporation, the parent firm of Metal Improvement Company, has acquired Parylene Coating Services, Inc. (“PCS”) of Katy, TX. PCS is well known in the medical device industry as a premium applicator of parylene conformal coatings. Their ISO 9001 registered facility will now become part of the Metal Improvement Company’s network of metal finishing service facilities.
“The acquisition of PCS fits our strategy of expanding Curtiss-Wright’s coating services business into diversified markets. PCS’s expertise complements our existing global network of coating facilities and provides expanded access to the growing medical market,” said Curtiss-Wright Chairman and CEO Martin R. Benante.
PCS utilizes a vapor deposition process to apply parylene coatings to medical devices, including coronary artery stents, rubber/silicone seals and wire forming mandrels used in the manufacture of catheters. The conformal coating provides lubricity; resistance to solvents, radiation and bacteria; and is also biocompatible. In addition to medical applications, parylene coatings are uniquely suited for use in niche electronic, oil and gas and general industrial applications.
Metal Improvement Company provides precision metal finishing services, including shot peening, laser peening, coating services and heat treating, through a network of over 60 facilities in North America and Europe. Metal Improvement Company is a wholly-owned subsidiary of the Curtiss-Wright Corporation (NYSE: CW).
Curtiss-Wright Corporation is a diversified company headquartered in Roseland, N.J. The company designs, manufactures and overhauls products for motion control and flow control applications, and provides a variety of specialized metal treatment services. The firm employs approximately 7,600 people worldwide. For more information about Curtiss-Wright visit www.curtisswright.com.
This press release contains forward-looking statements made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995 that are based on management’s beliefs and assumptions for a certain commercial application of its laser peening technology and a service contract with an existing customer. Such statements, including statements relating to Curtiss-Wright Corporation’s expectations for future performance and opportunities, 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 Chinese government spending; a change in political relations between the Chinese and US governments, 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 and Exchange Act of 1934, as amended, for further information.