Curtiss-Wright Acquires E/M Coatings Business in Evesham, UK
February 24 2004 - 2:00PM
PR Newswire (US)
Curtiss-Wright Acquires E/M Coatings Business in Evesham, UK
Evesham a is Leading Provider of Specialty Coatings in the UK
ROSELAND, N.J., Feb. 24 /PRNewswire-FirstCall/ -- Curtiss-Wright
Corporation (NYSE: CW; CW.B) today announced the acquisition of
selected assets of a coatings business based in Evesham, UK,
("Evesham") for approximately 3.4 million pounds sterling from
Morgan Advanced Ceramics Ltd, subsidiary of Morgan Crucible Plc.
Evesham will operate as part of the E/M Coatings business unit of
the Metal Treatment segment of Curtiss-Wright Corporation. Evesham
manufactures and applies an extensive range of solid film lubricant
(SFL) coatings which provide lubrication, corrosion resistance and
enhanced engineering performance. These coatings are applied under
the trade names of Everlube, Ever-Slik, Lube-Lok, Lubri-Bond,
Flurene and Perma-Slik to steel, titanium and aluminum substrates.
With 2003 sales of approximately 2.6 million pounds, Evesham has a
diverse base of approximately 300 customers in automotive (50%),
oil exploration (15%) and general industrial (35%) markets. Evesham
has 53 employees, and its state-of-the-art 32,000 square foot
facility has ISO 9001 quality certification. Evesham is a sister
facility to the six North American E/M Coatings Service facilities
that were acquired by Curtiss-Wright in 2003. E/M Coatings
constitutes the largest provider of SFL coatings in North America.
The coatings are used in a broad range of products and industries
whenever conventional wet lubricants provide insufficient
protection due to high temperatures, extreme loads, corrosion,
wear, chemical corrosion or other adverse operating conditions "The
Evesham acquisition is an integral piece of the E/M Coatings
business we acquired in 2003 as part of our strategic objective to
grow and diversify our metal treatment services," said Martin R.
Benante, Chairman and CEO of Curtiss-Wright. "Evesham will provide
a premier coatings facility which will generate customer and
product synergies with our other European metal treatment
facilities." About Curtiss-Wright Curtiss-Wright Corporation is a
diversified company headquartered in Roseland, New Jersey. The
Company designs, manufactures and overhauls products for motion
control and flow control applications, and provides metal treatment
services. The firm employs approximately 4,500 people worldwide.
More information on Curtiss-Wright can be found on the Internet at
http://www.curtisswright.com/. About Our Metal Treatment Segment
Curtiss-Wright's Metal Treatment segment provides precision metal
finishing services, including shot peening, shot peen forming,
laser peening, heat treating, specialty coatings, reed valve
manufacturing and wet finishing. Its customer base includes the
commercial aerospace, automotive, metalworking, oil and gas, power
generation, agricultural development, construction, mining, and
medical industries. The Company operates over 53 shot peening
facilities in the United States, Canada, United Kingdom, France,
Germany, Belgium and Sweden. More information on Curtiss-Wright's
Metal Treatment segment can be found on the Internet at
http://www.metalimprovement.com/. DATASOURCE: Curtiss-Wright
Corporation CONTACT: Alexandra Magnuson of Curtiss-Wright
Corporation, +1-973-597-4734 Web site:
http://www.curtisswright.com/ http://www.metalimprovement.com/
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