Business News
Curtiss-Wright Awarded Multi-Million Dollar Order for Deltaguard(R) Systems
2008-08-18 07:00:00
To Supply 10 of the Automated Coke Drum Unheading Systems
ROSELAND, N.J., Aug. 18 /EMWNews/ -- 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.
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