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Curtiss-Wright and NuScale Power Sign Contract for the Design of Control Rod Drive Mechanisms



Curtiss-Wright and NuScale Power Sign Contract for the Design of Control Rod
Drive Mechanisms

To be Used for NuScale's Small Modular Reactor

PARSIPPANY, N.J., Nov. 12, 2012 (GLOBE NEWSWIRE) -- Curtiss-Wright Corporation
(NYSE:CW) announced today that its Flow Control segment's Electro-Mechanical
Division (EMD) business unit has signed a contract with NuScale Power to
design control rod drive mechanisms (CRDMs) for NuScale's small modular
reactor (SMR). Curtiss-Wright will design the CRDMs, which control the
insertion and removal of control rod assemblies, at its facility in Mt.
Pleasant, Pa. The initial contract covers the design phase of the program.  

"This is a significant contract in many ways," said Martin R. Benante,
Chairman and CEO, Curtiss-Wright Corporation. "First, we are proud to begin a
productive partnership with NuScale. Second, small modular reactor CRDMs are a
key driver of growth for Curtiss-Wright and we are pleased to be working on
the development of this important technology. Third, it continues our
long-standing commitment to the future growth of the worldwide nuclear power
market and the creation of clean, affordable energy and thousands of high
quality jobs."

Curtiss-Wright is a world-class designer and manufacturer of CRDMs, having
supplied over 5,000 units worldwide for nuclear power plants, including the
first-ever installation on a reactor head in the U.S. The Company brings its
vast experience supporting existing operating reactors globally and new build
reactor designs, particularly for the Westinghouse AP1000, to the application
of this technology for small modular nuclear reactors.  

"With Curtiss-Wright's leadership in the design of CRDMs for use in NuScale's
SMR power modules, our customers are assured of high performance technology,"
said Paul Lorenzini, Chief Executive Officer, NuScale Power LLC. "We are
pleased to add Curtiss-Wright to our team of world-class suppliers."

NuScale is pursuing U.S. Nuclear Regulatory Commission (NRC) approval for its
SMR design, which is an integral pressurized-water reactor (iPWR). The design
is a natural circulation light water reactor with the reactor core and helical
coil steam generator located in a common reactor vessel in a cylindrical steel
containment. The reactor vessel/containment module is submerged in water in
the reactor building safety related pool. The reactor building, which is
located below grade, is designed to hold 12 SMRs. Each NuScale SMR has a rated
thermal output of 160 MWt and electrical output of 45 MWe, yielding a total
capacity of 540 MWe for 12 SMRs.

About Curtiss-Wright Corporation

Curtiss-Wright Corporation is an innovative engineering company that provides
highly engineered, critical function products, systems and services in the
areas of flow control, motion control and metal treatment to the defense,
energy and commercial/industrial markets. The legacy company of Glenn Curtiss
and the Wright brothers, Curtiss-Wright has a long tradition of design and
manufacturing innovation and prides itself on long-standing customer
relationships. The company employs approximately 8,300 people worldwide. For
more information, visit www.curtisswright.com.

The Curtiss-Wright Corporation logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=7709

About Curtiss-Wright Flow Control Segment

Curtiss-Wright Flow Control Company, headquartered in Falls Church, VA, is the
Flow Control business segment of Curtiss-Wright Corporation. This business
segment designs and manufactures highly engineered valves, pumps, motors,
generators, electronics, systems and related products for complex naval
defense, power generation, oil and gas and general industrial
applications. For more information, visit www.cwfc.com.

NuScale Power, LLC

NuScale Power, LLC is developing an inherently safe, modular, scalable
commercial nuclear power technology. NuScale's design offers the benefits of
carbon-free nuclear power but removes the issues presented by the cost of
installing large capacity. A nuclear power plant using NuScale's technology is
comprised of individual nuclear power modules; each produces 45 megawatts of
electricity with its own combined containment vessel and reactor system, and
its own designated turbine-generator set. A power plant can include as many as
12 NuScale integral pressurized-water reactor modules to produce as much as
540 megawatts. NuScale power plants are scalable; additional modules are added
as customer demand for electricity increases. These multi-module plants are
highly reliable – one unit can be taken out of service for refueling or
maintenance, or a new unit added, without affecting the operation of the
others. The reactors are cooled by natural convection of water, requiring no
pumps in the event of a shutdown. For more information, visit
www.nuscalepower.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 future performance of our commercial nuclear
products, the continued relationship with an existing customer, the successful
implementation of small modular reactors in the marketplace, the success of
our control rod drive mechanisms in these small modular reactors and future
opportunities associated with the small modular reactor 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.

CONTACT: Jim Ryan
         (973) 541-3766

Curtiss-Wright Corporation Logo
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