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DAVIDSON, N.C. - Curtiss-Wright Corporation (NYSE:CW), a $12.32 billion market cap defense contractor with robust financial health according to InvestingPro analysis, has secured multiple contracts to supply turret drive stabilization systems to Rheinmetall for use in military vehicles for the German and Hungarian armies. The technology will be integrated into the German Army’s Boxer Heavy Weapon Carrier and the Hungarian Ministry of Defence’s Lynx Infantry Fighting Vehicles.
The contracts entail providing Rheinmetall’s Vehicle Systems Europe and International divisions with the Turret Drive Stabilization System (TDSS) and other components. This technology ensures precise targeting and stabilization for the vehicles, even at full speed. It also offers scalable functionality, allowing for future upgrades in line with changing mission requirements.
Lynn M. Bamford, Chair and CEO of Curtiss-Wright, expressed pride in the company’s selection by Rheinmetall and highlighted the significance of these contracts in light of increasing NATO spending and global security threats. The agreements are seen as an opportunity to expand Curtiss-Wright’s international defense revenues.
Production for the German Army’s Boxer vehicles will be carried out at Curtiss-Wright’s facility in Neuhausen am Rheinfall, Switzerland, with deliveries scheduled through 2029. The TDSS for the Hungarian Defence Forces will also be manufactured in Switzerland, with additional systems produced in Australia during the second phase of the contract. Deliveries for the Hungarian MoD are planned through 2027.
Curtiss-Wright’s global partner network will support the production of system gyroscopes essential to the TDSS. The company’s role in these international defense projects underscores its position in providing engineered military solutions.
Based on a press release statement, the information presented reflects the company’s current contracts and expectations for its stabilization technology in military vehicle programs. Curtiss-Wright has not disclosed the financial details of the contracts. The company, with a history dating back to aviation pioneers Glenn Curtiss and the Wright brothers, serves Aerospace & Defense markets, among others, with a workforce of approximately 8,800 employees.
Investors and interested parties can find more information on Curtiss-Wright’s website, but readers are advised that forward-looking statements involve risks and uncertainties that could cause actual results to differ from projected outcomes.
In other recent news, Curtiss-Wright Corporation reported impressive fourth-quarter 2024 financial results, surpassing consensus expectations for both revenue and earnings per share. Analysts from Stifel adjusted their outlook on the company, reducing the price target to $331 while maintaining a Hold rating, despite the strong financial performance. Additionally, Citi initiated coverage with a Buy rating and set a price target of $410, citing expected revenue boosts from Department of Defense spending trends. In terms of contracts, Curtiss-Wright secured a significant $50 million contract with the U.S. Navy to supply high-speed data acquisition systems, extending their long-standing partnership. Furthermore, the company announced a $27 million contract for its Aircraft Ship Integrated Securing and Traversing systems, underscoring its role in naval operations. Curtiss-Wright also declared a quarterly dividend of $0.21 per share, reflecting its commitment to shareholder value. These developments highlight the company’s ongoing success in securing strategic contracts and maintaining strong financial performance.
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