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ROSELAND, N.J., Aug. 18 /PRNewswire-FirstCall/ -- Global Supplies has
awarded Curtiss-Wright Corporation (NYSE: CW) a multi-million dollar contract
for 10 top and bottom DeltaGuard automated coke drum unheading systems. The
units are expected to be installed at the Essar Oil Vadinar Refinery located
in Gujarat, India by October 2009.
"Curtiss-Wright is a worldwide leader in delivering unique solutions that
ensure safety and improve operating efficiency within the oil refining
industry. We are pleased to be partnering with Essar to provide critical
equipment for their delayed coker units," said Martin R. Benante, Chairman and
Chief Executive Officer of Curtiss-Wright. "Curtiss-Wright continues to
experience strong demand for our refinery-related products, which have
steadily gained an industry-leading reputation for providing unparalleled
safety, reduced cycle times, increased throughput and minimized maintenance
costs."
The DeltaGuard device safely opens the top or bottom of a coke drum (an
action called "unheading") during the delayed coking process, which generates
extreme temperature and pressure conditions. Unlike other unheading systems,
the remotely operated DeltaGuard system creates a totally enclosed coking
system, eliminating safety risks to personnel during the unheading process.
With the Essar installation, the total number of installed DeltaGuard systems
will rise to 254, representing nearly 34% of the worldwide market.
Global Supplies of Dubai, UAE is the international procurement arm of
Essar Global Limited, a diversified corporation with a portfolio of assets in
a variety of manufacturing and services sectors. Essar Oil Limited is a fully
integrated oil company in the corporation's energy sector. Essar Oil's assets
include the Vadinar Refinery, a 10.5 million metric ton per annum (MMTPA)
refinery that the company is expanding to 34 MMTPA at a projected cost of
approximately $6 billion. It also owns development rights in proven
exploration regions in India and abroad and a downstream retail network of
over 1,250 fuel stations, with the supporting infrastructure, throughout
India.
About Curtiss-Wright
Curtiss-Wright Corporation is a diversified company headquartered in
Roseland, N.J. The company designs, manufactures and overhauls products for
motion control and flow control applications, and provides specialized metal
treatment services. The firm employs approximately 7,600 people worldwide.
For more information about Curtiss-Wright, visit http://www.curtisswright.com.
About Curtiss-Wright Flow Control
Headquartered in Falls Church, VA, Curtiss-Wright Flow Control is the flow
control segment of Curtiss-Wright Corporation. Curtiss-Wright Flow Control
specializes in the design and manufacture of highly engineered valves, pumps,
motors, generators, electronics and related products for the commercial
nuclear power industry, oil and gas processing facilities and a range of
critical military programs. For more information, visit http://www.cwfc.com .
This press release contains forward-looking statements made pursuant to
the Safe Harbor provisions of the Private Securities Litigation Reform Act of
1995. Such statements, including statements relating to Curtiss-Wright
Corporation's expectations of the value of the contract, the continued
relationship with an existing customer, the successful completion of this
contract and future opportunities associated with this contract, 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 and Foreign
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 and
Exchange Act of 1934, as amended, for further information.
SOURCE Curtiss-Wright Corporation
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