Dresser-Rand is a leading designer and manufacturer of mission-critical, high-speed rotating equipment solutions, including reciprocating compressors, steam turbines and steam system valves, supporting Nimitz-class and Ford-class aircraft carriers, Virginia-class and Columbia-class submarines, and most major U.S. Navy shipbuilding programs. Dresser-Rand is the sole supplier of steam turbines and main engine guard valves on all aircraft carrier programs. Through its three service centers, it is also a leading provider of ship repair and maintenance for the U.S. Navy’s Atlantic and Pacific fleets.
"The acquisition of Dresser-Rand’s government business portfolio significantly expands our shipset content and increases our footprint on new U.S. Navy Nuclear vessels, establishes a prominent Curtiss-Wright presence at U.S. Navy shipyards, and provides an opportunity to grow our existing U.S. Navy aftermarket business,” said David C. Adams , Chairman and CEO of Curtiss-Wright Corporation . “The combination of our long-standing relationships with similar customers, and proven track records supporting critical U.S. naval defense platforms, ensures that we are well-positioned to benefit from the continued expansion of our U.S. naval fleet. Further, this transaction exemplifies the ideal strategic and financial fit for Curtiss-Wright as it supports our long-term financial objectives for increased sales growth, margin expansion and strong free cash flow generation.”
For over 60 years, Curtiss-Wright has ensured safe, reliable operations by supplying innovative, high-performance products for every nuclear submarine and aircraft carrier commissioned by the U.S. Navy . Today, we are the preferred supplier of pumps and valves used in the nuclear propulsion system, which is the heart of the most critical function of these vessels, while Dresser-Rand is one of the leading providers of main steam propulsion turbines and valves.
Dresser-Rand equipment is used on hundreds of U.S. Navy ships to provide power and compression for propulsion, pump drives, ship service air, oxygen/nitrogen (O2N2) feed air, generator drives, and deballasting. The service centers primarily focus on overhauls of Dresser-Rand legacy equipment, emergent U.S. Navy shipyard repair needs and global service work pursuant to several key OEM service agreements. Dresser also produces the Terry©-branded steam turbine feedwater pumps for the commercial nuclear power market.
The Dresser-Rand government business, which employs approximately 150 people, is expected to generate sales of approximately $95 million in fiscal 2018, principally to the naval defense market, with additional sales to the power generation market. The acquisition is expected to close in April 2018 , subject to the receipt of regulatory approval and other closing conditions.
About Curtiss-Wright Corporation
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