2/4/2004 - Curtiss-Wright Controls, Inc. announced that it has acquired Dy 4 Systems, Inc. (Dy 4) for approximately $110 million from Solectron. Curtiss-Wright Controls is the motion control business segment of Curtiss-Wright Corporation (NYSE: CW, CW.B).
The acquisition of one of the top industry performers strengthens Curtiss-Wright's position as a leading supplier of embedded computing solutions for the aerospace, naval and defense markets. Combined with Curtiss-Wright's recent acquisitions of VISTA Controls, Systran and Peritek, the Dy 4 purchase also strengthens the company's graphics and digital signal processing capabilities, which are key factors in enhancing electronics content in their core markets.
"Having both Dy 4 and VISTA Controls as part of the Curtiss-Wright family will enable us to leverage the manufacturing capabilities of both companies more effectively and increase our opportunities in the aerospace and naval markets," says George Yohrling, President of Curtiss-Wright Controls. "Dy 4's sales and distribution network will also complement and expand our current capabilities in this area."
The Company also announced a restructuring of their Electronic Systems organization to maximize the collective engineering, manufacturing, and sales talents of all the electronics business units. Curtiss-Wright Controls will now be organized around two major capabilities - Electronic Systems and Mechanical Systems. The Electronic Systems organization will be further segmented around two major markets - Embedded Systems and Integrated Sensing. Dy 4 Systems, VISTA Controls, Peritek, and Systran will all be part of the Embedded Systems organization led by a single Group Vice President. "We believe the most effective way to maximize the synergies of these outstanding business units is to integrate them under a single leader," says George Yohrling. "We are excited about the future opportunities our recent acquisitions will bring to Curtiss-Wright Controls."
Headquartered in Ottawa, Canada, with additional facilities in Leesburg, Virginia and Cardiff and Milton Keynes, United Kingdom, Dy4 has annual sales of approximately $70 million and serves nearly 300 customers in 26 countries. Dy 4 specializes in using leading commercial technologies to create products that work reliably in harsh environments. Key customers include BAE Systems, DRS Technologies, General Dynamics, Northrop Grumman, Lockheed Martin and Raytheon.
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