Curtiss-Wright Wins $480m Deal for Navy Subs
By Aiswarya Lakshmi
June 17, 2015
Charlotte-based manufacturer Curtiss-Wright Corp. has won a series of contracts valued at $480 million to supply parts for the U.S. Navy’s Virginia-Class nuclear submarines.
The Navy’s Block IV Virginia Class Submarine Program covers 10 submarines, two per year from fiscal years 2014 through 2018, according to a statement from Curtiss-Wright.
So far, more than $330 million has been allocated to the contracts, and the remaining will be provided incrementally, the company said. Two Curtiss-Wright divisions are performing the work under the contracts, and engineering and manufacturing will continue through 2019.
“These submarines remain critically important to our national defense, and our continuous improvement and cost reduction initiatives have supported the U.S. Navy in its efforts to contain costs while providing critical resources required by the Navy,” David Adams, chairman and CEO of Curtiss-Wright, said in the statement.
"We are very proud to have been awarded these contracts, which continue Curtiss-Wright's long-standing relationship and ongoing support for the U.S. Navy's nuclear powered Virginia Class Submarine program," said David.
Curtiss-Wright said its Electro-Mechanical Systems Division's facilities in Pennsylvania and an Industrial Division facility in New York are performing the work under these contracts.
