CIRCOR Aerospace & Defense New York & Lockheed Martin Enter Site Agreement for Hellfire Missile Program
Source: Nasdaq GlobeNewswire / 05 Feb 2019 15:24:30 America/New_York
HAUPPAUGE, N.Y., Feb. 05, 2019 (GLOBE NEWSWIRE) -- 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 Statement
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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.