Curtiss-Wright Corporation today announced that it has signed a definitive purchase agreement to acquire Primagraphics Holdings for approximately $21 million. Primagraphics will operate as a business unit of the Motion Control segment of Curtiss-Wright, based in Gastonia, North Carolina.
Primagraphics develops radar processing and graphic display systems used throughout the world for military and civil applications, such as ship and airborne command and control consoles, vessel tracking, air traffic control and air defence systems.
With sales of approximately $12.5 million in 2003, Primagraphics’ products include graphics and imaging technologies, video and sensor processing hardware, and software that can be engineered to provide vital components for a wide variety of systems.
The transaction is subject to customary government approvals, completion of a review of the business, and certain closing conditions being met by both parties.
“The addition of Primagraphics to the Curtiss-Wright family will enhance our position as a leading embedded systems supplier for the aerospace, defence and, in particular, naval markets,” said Martin R. Benante, Chairman and CEO of Curtiss-Wright.
“Primagraphics’ products broaden our market reach into radar, sonar and video applications. Furthermore, their European base will provide a new platform to serve the second largest defence electronics market with access to important programs and customers in the UK and around the world,” added Benante.