Curtiss-Wright Acquires Exlar Corporation

Curtiss-Wright Acquires Exlar Corporation

Leading Provider of Highly-Engineered Electric Actuators

PARSIPPANY, N.J., Jan. 2, 2013 (GLOBE NEWSWIRE) -- Curtiss-Wright Corporation
(NYSE:CW) today announced that it has completed the acquisition of the shares
of Exlar Corporation for $85 million in cash. Exlar, a private company, is a
leading designer and manufacturer of highly engineered electric actuators used
in motion control solutions in industrial and military markets. The acquired
business will operate within Curtiss-Wright's Motion Control segment.

"The acquisition of Exlar provides Curtiss-Wright a cornerstone property
serving multiple markets and addresses the growing demand for advanced,
energy-efficient and environmentally-friendly actuation solutions, while
strengthening our existing industrial controls business," said Martin R.
Benante, Chairman and CEO of Curtiss-Wright Corporation. "This acquisition
complements our recent acquisitions of PG Drives and Williams Controls and
further enhances our market diversification by providing greater penetration
into our existing markets while simultaneously increasing our presence and
breadth of product offerings in specialty markets."

Since 1991, Exlar electric actuators are used in a wide range of markets
including defense, process control, industrial automation, food processing &
packaging and test/simulation/entertainment. The transaction closed in
December. The company is expected to contribute sales of approximately $50
million in 2013.

The company's products address the increasing need for electric actuators
capable of delivering the precise position control historically associated
with hydraulic (servo) actuators. Exlar's electro-mechanical actuators provide
"plug and play" replacement for existing hydraulic actuators, which enables
customers to eliminate the maintenance and environmental issues associated
with the older technology. Compared to hydraulic and pneumatic actuator
technologies, Exlar's electric actuators significantly reduce energy usage
because they only consume power when motion is required. These self-contained
high-reliability units are also significantly more environmentally-friendly
than the complex fluid-based hydraulic technologies that they replace.

Exlar employs 183 people and is headquartered in Chanhassen, Minn. The company
also maintains a sales and service office near Frankfurt, Germany. Exlar
designs and manufactures its products at its ISO-certified Chanhassen facility
and utilizes sales partners and a distributor network to reach its customers
throughout the world.

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 surface treatment technologies 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 along with long-standing customer
relationships. The company employs approximately 9,700 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 Controls, Inc.

Headquartered in Charlotte, NC, Curtiss-Wright Controls is the Motion Control
segment of Curtiss-Wright Corporation and a leading designer and manufacturer
of advanced technologies for niche actuation and drive applications,
integrated sensors and electronic subsystems internationally for the aerospace
and defense markets.For more information, visit www.cwcontrols.com.

This press release contains forward-looking statements made pursuant to the
Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995
that are based on management's beliefs and assumptions. Such statements,
including statements relating to Curtiss-Wright Corporation's expectations for
the future performance of Exlar Corporation, the future opportunities
associated with the acquisition, and the success of the Company integrating
Exlar Corporation into its Motion Controls segment, 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 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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