Curtiss-Wright Acquires Bolt's Metallizing, Inc.
March 16 2015 - 4:15PM
Curtiss-Wright Corporation (NYSE:CW) today announced that it has
acquired certain assets and liabilities of Bolt's Metallizing, Inc.
(Bolt's). Bolt's is a leading provider of thermal spray coatings
for critical aerospace applications, including high velocity oxygen
fuel (HVOF) and plasma spray coating capabilities. The acquired
business will operate within Curtiss-Wright's Commercial/Industrial
segment and will be accretive immediately.
"The acquisition of Bolt's is complementary to our existing
engineered coatings offerings, adding high-technology services to
our Surface Technologies business," said David C. Adams, Chairman
and CEO of Curtiss-Wright Corporation. "This is consistent with our
stated acquisition strategy of targeting strategic bolt-on
companies and is expected to support our objectives of margin
expansion, cash flow generation and solid return on invested
capital. Further, it reinforces Surface Technologies' strategic
objective to advance up the technological chain and expand the
breadth of their technology and customer bases. Bolt's is located
in a major US aerospace manufacturing area where we do not
currently maintain a coatings presence, and this acquisition is
expected to generate significant opportunities for technology
transfer within our worldwide services network."
Bolt's specializes in the application of oxidation resistant and
abradable coatings for turbine engines and HVOF wear coatings for
landing gear components. In addition to thermal spray coatings, the
business has onsite capability for welding and brazing, which
enables turnkey repairs of turbine engine components. Bolt's
operates out of a 20k ft2 facility in Phoenix, AZ, and is NADCAP
and ISO 9001 accredited. Bolt's has approximately 25 employees and
generated sales of approximately $6 million in 2014.
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 9,000 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 that are based on management's
beliefs and assumptions. Such statements, including statements
relating to Curtiss-Wright Corporation's expectations for the
future opportunities associated with the acquisition, the success
of transferring the Bolt's technology throughout our existing
world-wide network, and the success of the Company integrating
Bolt's into its Commercial/Industrial segment 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 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
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