Curtiss-Wright Awarded Contract by BAE Systems for Image Processor Subsystem for use on ARGUS UAV-based Wide Area Surveillance Programs
September 07, 2011 | BY: John WranovicsDownload PDF
CHARLOTTE, NC - September 7, 2011 - Curtiss-Wright Corporation (NYSE:CW) today announced that it has received a contract from BAE Systems to provide an image processor subsystem for use on the Autonomous Real-Time Ground Ubiquitous Surveillance imaging systems, ARGUS-IS and ARGUS-IR, which BAE is developing under contract to the Defense Advanced Research Projects Agency (DARPA).
Under the agreement, delivery of the subsystems is scheduled to begin in the third quarter of 2011 and is expected to run through the end of this year. Including this initial contract, total orders in 2011 are anticipated to approach $2.5 million, with an estimated total value of $27.5 million over the lifetime of both programs.
"We are very pleased to partner with BAE on the development of the ARGUS UAV-based wide area surveillance system," said David Adams Co-Chief Operating Officer for Curtiss-Wright Corporation. "Curtiss-Wright is proud to provide our image processing technology for use on this critical next-generation ISR application."
Curtiss-Wright's Motion Control facilities in Ottawa, Canada and San Diego, CA will manufacture the products covered by this agreement, which include high-performance, rugged processor boards and an air-flow chassis.
The Autonomous Real-Time Ground Ubiquitous Surveillance Imaging System (ARGUS-IS) is an airborne processing system that can simultaneously and continuously detect and track the presence and motion of thousands of small or large targets over an area covering tens of square miles. ARGUS-IS is designed for daytime use and a system utilizing infrared technology (ARGUS-IR) is designed for nighttime use.
About Curtiss-Wright Controls, Inc.
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.
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 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. Such statements, including statements relating to Curtiss-Wright Corporation's expectations of future performance of our development work, the value of the contract, the continued relationship with an existing customer, the successful implementation and funding of this government 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.