Curtiss-Wright Corporation has completed the acquisition of the Government Marine Business Unit (GMBU) division of Flowserve Corporation for approximately $28 million in cash. GMBU will operate as a business unit of the Flow Control segment of Curtiss-Wright Corporation.
With 2003 sales of approximately $26 million, GMBU is a leading designer and manufacturer of highly engineered, critical function pumps for the U.S. Navy nuclear submarine and aircraft carrier programs and non-nuclear surface ships. GMBU has an outstanding reputation as the sole source supplier of main and auxiliary seawater, freshwater, and cooling pumps, coolant purification pumps, injection, chilled water, and other critical pumps. Approximately 85 percent of this business supports nuclear programs and 15 percent supports non-nuclear naval surface programs. GMBU has a strong and growing aftermarket business for repairs, refurbishments, and parts, which constitutes approximately 45 percent of total sales.
"The acquisition of GMBU provides a significant addition to Curtiss-Wright’s portfolio of highly engineered pumps and motors," says Martin R. Benante, chairman and CEO of Curtiss-Wright. "GMBU’s advanced marine technologies will expand product offerings in a core market segment for Curtiss-Wright–the U.S. Navy. It also provides an opportunity to expand our content on new non-nuclear surface platforms such as destroyers, amphibious ships, frigates, cruisers, mine warfare ships, and other foreign military platforms."
Headquartered in Phillipsburg, New Jersey, GMBU has a 300,000 square-foot manufacturing and testing complex that includes engineering and administration as well as one of the most comprehensive testing facilities in the industry. GMBU’s capabilities in design and testing of pumps and motors are very complementary to Curtiss-Wright’s current facilities and provide an opportunity for capacity utilization enhancement. The company has 76 full-time employees.
Formed in 1929, Curtiss-Wright Corporation is the legacy company of Glenn Curtiss and the Wright brothers’ pioneering achievements, which gave birth to the aviation industry. Today, Curtiss-Wright continues to focus on innovation as a diversified, global provider of highly engineered, technologically advanced products and services for military, commercial, and industrial applications. The company designs, manufactures, and overhauls products for motion control and flow control applications, and provides metal treatment services. Headquartered in Roseland, New Jersey, Curtiss-Wright employs approximately 5,400 people worldwide.
Headquartered in Farmingdale, New York, Curtiss-Wright Flow Control (CWFC) is the flow control segment of Curtiss-Wright Corporation. Founded in 1951, CWFC specializes in the design and manufacture of highly engineered valves, pumps, and related products for naval propulsion systems. Today, CWFC’s sophisticated products are installed on every nuclear submarine and aircraft carrier commissioned by the United States Navy and an integral part of worldwide commercial nuclear power plants, oil and gas processing facilities, automotive, and general industrial markets. For more information, visit [www.cwfc.com].
Also contact Alexandra M. Deignan at (973) 597-4734, or visit the company’s Web site at [www.curtisswright.com].
