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Curtiss-Wright to Acquire Safran Aerosystems Arresting for USD 240m in Cash
Friday 21 January 2022

US-based aerospace and defense products provider Curtiss-Wright Corp. (NYSE: CW) has entered into an agreement to acquire the assets that comprise the aircraft emergency arresting systems maker Safran Aerosystems Arresting company for USD 240m in cash, the company said.

SAA is a designer and manufacturer of aircraft emergency arresting systems with more than 5,000 systems worldwide and currently sells into more than 70 countries.

SAA generated sales of approximately USD 70m in 2021 and is expected to be accretive to Curtiss-Wright's adjusted diluted earnings per share in its first full year of ownership, excluding first year purchase accounting costs, and produce a strong free cash flow conversion rate well in excess of 100%.

The acquired business will operate within Curtiss-Wright's Naval and Power segment.

Through its predecessor companies, SAA created the first aircraft arresting system in 1960.

Today, its product portfolio includes energy absorbers, including the BAK-12 multiple disc mechanical brake system, retractable hook cable systems, net-stanchion systems and mobile systems to support aircraft carrier and fixed land-based arresting systems.

In addition to its place in land-based military arresting systems, SAA also supplies the mechanical braking module for the Advanced Arresting Gear used on the US Navy's Ford-class aircraft carrier program.

SAA's aftermarket business, which is supported by the world's largest installed base of arresting systems, provides cradle-to-grave support from civil engineering at installation, on-site qualification through post-installation maintenance, spares, and overhaul services.

SAA, which employs nearly 140 people, is based in Aston, Pa., and also maintains operations in Merpins, France.

The acquisition is expected to close in 3Q22, subject to regulatory approval and other closing conditions.

Curtiss-Wright Corp. (NYSE: CW) offers products and services to the aerospace and defense markets, and to the commercial markets including power, process and general industrial.

The company employs approximately 8,200 people worldwide.
Date Published: 21/01/2022