PARSIPPANY, N.J. (AP) -- Curtiss-Wright Corp. won a subcontract worth up to $66 million to make valves for the U.S. Navy's new nuclear-propelled submarines.
The machine parts maker, based in Parsippany, N.J., said Friday that it will provide valves for the Navy's next two Virginia-Class nuclear sub systems. The contract was awarded by Bechtel Plant Machinery, of Monroeville, Pa., which is providing nuclear propulsion components for the subs.
The contract can be extended to include valves for another four ships, Curtiss-Wright said. If Bechtel exercises those extensions, the contract will be worth $66 million, Curtiss-Wright said.
Curtiss-Wright makes metal coatings, and offers precise machine parts that control fluid flows and aircraft movement.
The submarine valves will be manufactured by Curtiss-Wright's Flow Control segment in East Farmingdale, N.Y., and will be delivered between 2012 and 2018, the company said.
Curtiss-Wright has been outfitting the Navy, and especially its nuclear-propelled subs, for more than 50 years, the company said. CEO Martin Benante said in a statement that the company doubled its production capacity from one sub to two subs per year, ensuring its continued participation in the program.
Virginia-class submarines are attack submarines built principally by General Dynamics' Electric Boat unit, based in Groton, Conn., and Northrop Grumman, based in Los Angeles.
Curtiss-Wright shares fell 23 cents to $37.99 Friday.
The machine parts maker, based in Parsippany, N.J., said Friday that it will provide valves for the Navy's next two Virginia-Class nuclear sub systems. The contract was awarded by Bechtel Plant Machinery, of Monroeville, Pa., which is providing nuclear propulsion components for the subs.
The contract can be extended to include valves for another four ships, Curtiss-Wright said. If Bechtel exercises those extensions, the contract will be worth $66 million, Curtiss-Wright said.
Curtiss-Wright makes metal coatings, and offers precise machine parts that control fluid flows and aircraft movement.
The submarine valves will be manufactured by Curtiss-Wright's Flow Control segment in East Farmingdale, N.Y., and will be delivered between 2012 and 2018, the company said.
Curtiss-Wright has been outfitting the Navy, and especially its nuclear-propelled subs, for more than 50 years, the company said. CEO Martin Benante said in a statement that the company doubled its production capacity from one sub to two subs per year, ensuring its continued participation in the program.
Virginia-class submarines are attack submarines built principally by General Dynamics' Electric Boat unit, based in Groton, Conn., and Northrop Grumman, based in Los Angeles.
Curtiss-Wright shares fell 23 cents to $37.99 Friday.