CIRCOR Aerospace & Defense New York & Lockheed Martin Enter Site Agreement for Hellfire Missile Program
06 February 2019 - 7:24AM
CIRCOR Aerospace Inc., a CIRCOR International company (NYSE:CIR),
announced that its Aerospace & Defense New York business has
entered into a site agreement with Lockheed Martin (NYSE: LMT) in
support of the Hellfire Missile Buy 17 Program requirements for
kinetic switches and modules (FY2018 through FY2021). The estimated
value over the term of the agreement exceeds $12.3 million.
In addition, the parties have completed negotiations on terms
of the contract and production pricing.
CIRCOR Aerospace New York (formerly Aerodyne
Controls) has been an innovative leader in the design, development
and manufacture of kinetic switches and pneumatic actuation systems
for military and commercial applications for over 50 years.
The partnership between CIRCOR and Lockheed
Martin launched in 2011 with the design phase of the Safe & Arm
and Impact applications for the Hellfire Program and has continued
through the industrialization and production phases starting in
2013. The AGM-114R is the latest Hellfire II variant and is
equipped with semi–active laser seekers to defeat many kinds of
targets. The AGM-114R can be launched from fixed-wing aircraft and
helicopters, surface ships, and military ground vehicles.
CIRCOR spokesperson stated, “We are excited to
continue to meet and exceed our customer’s expectations with this
latest agreement. Our technology is critical to the Hellfire
Missile Program and we look forward to additional opportunities to
support our military.”
Safe Harbor StatementThis press release
contains forward-looking statements within the meaning of Section
27 A of the Securities Act of 1933, as amended, and Section 21 E of
the Securities Exchange Act of 1934, as amended. Reliance should
not be placed on forward-looking statements because they involve
unknown risks, uncertainties and other factors, which are, in some
cases, beyond the control of CIRCOR. Any statements in this press
release that are not statements of historical fact are
forward-looking statements, including, but not limited to, those
relating to CIRCOR's future performance, including our ability to
achieve financial targets. Actual events, performance or results
could differ materially from the anticipated events, performance or
results expressed or implied by such forward-looking statements.
Important factors that could cause actual results to vary from
expectations include, but are not limited to: our ability to
respond to competitive developments and to grow our business, both
domestically and internationally; changes in the cost, quality or
supply of raw materials; our ability to comply with our debt
obligations; our ability to successfully implement our acquisition,
divesture or restructuring strategies, including our integration of
the Fluid Handling business; changes in industry standards or
government regulations, both in the United States and
internationally; and our ability to operate our manufacturing
facilities at current or higher levels and respond to increases in
manufacturing costs. BEFORE MAKING ANY INVESTMENT DECISIONS
REGARDING OUR COMPANY, WE STRONGLY ADVISE YOU TO READ THE SECTION
ENTITLED "RISK FACTORS" IN OUR MOST RECENT ANNUAL REPORT ON FORM
10-K AND SUBSEQUENT QUARTERLY REPORTS ON FORMS 10-Q, WHICH CAN BE
ACCESSED UNDER THE "INVESTORS" LINK OF OUR WEBSITE AT
WWW.CIRCOR.COM. We undertake no obligation to publicly update or
revise any forward-looking statement, whether as a result of new
information, future events or otherwise.
About CIRCOR Aerospace & Defense
CIRCOR Aerospace & Defense is focused on the
design, development, and manufacture of specialty fluid and motion
control products for demanding aerospace and defense applications.
CIRCOR products are flying on most commercial and military
aircraft, including single and twin aisle air transport, business
and regional jets, military transports and fighters, and commercial
and military rotorcraft. Other markets include unmanned aircraft,
shipboard applications, and military ground vehicles.
Business units are in California, Massachusetts,
New York; Paris, France; Uxbridge, UK; and Tangier, Morocco. Parent
company CIRCOR International is headquartered in Burlington,
Massachusetts and CIRCOR Aerospace & Defense is headquartered
in Corona, California.
About CIRCOR International, Inc.
CIRCOR International, Inc. designs,
manufactures and markets differentiated technology products and
sub-systems for markets including oil & gas, industrial,
aerospace & defense and commercial marine. CIRCOR has
a diversified flow and motion control product portfolio with
recognized, market-leading brands that fulfill its customers’
mission critical needs. The Company’s strategy is to grow
organically and through complementary acquisitions; simplify
CIRCOR’s operations; achieve world class operational excellence;
and attract and retain top talent. For more information, visit the
Company’s investor relations website
at http://investors.circor.com.
Contact: Jackie Osborne, CIRCOR Aerospace,
Inc.Mobile: 951-310-2544 Office: 951-270-6221
E-mail: jacqueline.osborne@circor.com www.circoraerospace.com
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