Hot Features
Premium
Level up your trading with our powerful tools and real-time insights all in one place.
Manufacturer of Ground Support Equipment for the Aviation Industry
Curtiss-Wright Corporation (NYSE:CW) today announced that it has sold the assets of its Douglas Equipment (Douglas) business to a subsidiary of Textron Inc. (NYSE:TXT).
“This transaction aligns with our stated objective to divest non-core operations as part of our previously outlined operating margin improvement initiatives,” said David C. Adams, Chairman and CEO of Curtiss-Wright Corporation. “Furthermore, it enables us to focus on our core commercial aerospace businesses, while also providing a better strategic fit for Douglas’ product portfolio. Overall, this supports our long-term goals of significant free cash flow generation and operating margin expansion.”
Founded in 1947, Douglas, located in Cheltenham, U.K., is a supplier of commercial aviation ground support vehicles, including a range of towbarless and conventional aircraft tractors and runway friction measuring devices. Douglas sells to many of the world’s airlines and ground handling companies. Its tractors are in use in the U.S., Canada, U.K., Italy, Greece, Germany, the Middle East, Africa, Australia, China and other Asia Pacific countries.
Curtiss-Wright Corporation is a global innovative company that delivers highly engineered, critical function products and services to the commercial, industrial, defense and energy markets. In a statement the company said “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 10,000 people worldwide.”
