For use in the assessment phase of the UK MoD’s Challenger 2 Battle Tank Life Extension Program
EUROSATORY 2018, Paris Nord Villepinte Exhibition Center. (Hall 5A, #D323) – June 11, 2018 -- Curtiss-Wright’s Defense Solutions division today announced that it was awarded a contract by Rheinmetall’s Vehicle Systems Division to provide its turret drive stabilization system in support of the Assessment Phase of the UK MoD’s Life Extension Program to upgrade its fleet of 225 Challenger 2 (CR2) Battle Tanks. Under the contract, Curtiss-Wright’s Drive Technology business unit, located in Neuhausen am Rheinfall, Switzerland, will provide a prototype of its state-of-the-art Turret Drive Servo System (TDSS) for use with Rheinmetall’s 120mm smoothbore gun.
Curtiss-Wright’s TDSS delivers unmatched target location accuracy and turret stabilization while providing system integrators with an unprecedented level of freedom to define and deploy the exact solution they require. It uniquely enables system designers to upgrade and add stabilization functionality as their mission requirements change. Because TDSS uses standard system configurations, it speeds system development and enables programs to reach demonstration and production phases more rapidly. The use of preconfigured TDSS system components also reduces the time and costs associated with the requirements definition process. As part of the program’s Assessment Phase, which started in March, 2018, Rheinmetall will demonstrate its solution and capabilities at the end of this year. In early 2019, the UK MoD will select the recipient of the program’s DMI and Series Phases, which are expected to run through 2024. The initial contract covers the Assessment Phase, and will be followed by the award of the DMI and Series Phases.
"We are very proud that Rheinmetall Land Systems has selected our turret drive stabilization solution to support their proven 120mm gun in the UK MoD’s important Challenger 2 Battle Tank upgrade program,” said Lynn Bamford, Senior Vice President and General Manager, Defense Solutions division. “This marks a significant main battle tank design win for our cost-effective, scalable Turret Drive Servo System.”
Curtiss-Wright is manufacturing the products covered by this agreement at its Drive Technology facility in Neuhausen am Rheinfall, Switzerland. The products will be shipped to Rheinmetall in Germany.
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 employs approximately 8,600 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 this military battle tank upgrade contract, the continued relationship with a customer, the continued funding and success of this military battle tank upgrade program, and the future opportunities associated with military battle tank upgrade 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 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.