For Removable Memory Cartridges used in upgrade program for the navy's fleet of Ohio-class ballistic missile submarines
ASHBURN, Va. – November 4, 2019 – Curtiss-Wright’s Defense Solutions division, a trusted leading supplier of rugged data storage solutions, today announced that it was awarded a contract by the Naval Surface Warfare Center to provide its Removable Memory Cartridge (RMC) technology for use in a planned future upgrade for the Navy's fleet of Ohio-class ballistic missile submarines. The RMC is a rugged direct-attached storage device based on industry-standard 2.5-inch SATA solid-state drives (SSD), and is scalable from 128 gigabytes to 4 terabytes today, and adaptable to support new SSDs in the future. Specifically designed for rugged, deployed applications, the RMCs will support the system upgrade effort to achieve increased performance while helping to mitigate obsolescence. Featuring a 100,000 insertion cycle connector, the RMC is designed to withstand years of insertion and removal for data storage and transport.
The RMC storage cartridges are part of a network-attached storage (NAS) system that includes Curtiss-Wright's DTS3 rugged NAS, which hosts three RMCs. The RMC can be used to store data and then transport the data between locations. Under the contract, shipments began in June 2019 and will continue until October 2024. The initial contract is valued at $4.5 million, with $3.35 million provided by the U.S. Navy and $1.19 million resulting from associated foreign military sales. The estimated lifetime value of the contract is $9.9 million.
"We are very proud to have been selected by the Naval Surface Warfare Center to provide our rugged data storage technology in support of the important upgrade of the fleet of Ohio-class ballistic missile submarines,” said Lynn Bamford, Senior Vice President and General Manager, Defense, and Power.
Curtiss-Wright is manufacturing the products covered by this agreement at its facility in Fairborn, Ohio. The products are being shipped to the Naval Surface Warfare Center in Crane, Indiana.
About Curtiss-Wright Corporation
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. 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 is headquartered in Davidson, N.C., and employs approximately 9,000 people worldwide. For more information, visit www.curtisswright.com.
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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’s expectations of future performance of our rugged data storage products, the continued relationship with a customer, the continued success of this naval defense program, and the future opportunities associated with this naval defense program, 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 a 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 Exchange Act of 1934, as amended, for further information.