Curtiss-Wright Corporation has announced that it has acquired the assets of Scientech, LLC of Idaho Falls, Idaho, for approximately $57.8 million. Scientech is a global provider of commercial nuclear power instrumentation, electrical components, specialty hardware, process control systems, and proprietary database solutions aimed at improving safety and plant performance, efficiency, reliability and reducing costs. The business will become part of the Commercial Power & Services group within Curtiss-Wright's Flow Control segment.
'The acquisition of Scientech complements our capabilities in the commercial nuclear power business and provides us with an excellent opportunity to expand in this high growth market,' said Curtiss-Wright Chairman and CEO Martin R. Benante. 'The company brings high value business lines, including critical hardware, plant process controls and proprietary database solutions which are highly synergistic with our existing nuclear power products, and supports our strategy to become a primary global source of critical technologies for nuclear power.'Approximately half of Scientech's business is generated by their Technical & Hardware Solutions Group which provides instrumentation, electrical and mechanical hardware for utilities to address obsolescence and improve efficiency and safety of operations. The balance of the business is generated by the Utility Services Group which provides utilities with specialized analysis, technical consulting and engineering solutions to assist in modernizing facilities, improving operating efficiency and responding to regulatory requirements. Founded in 1983 as a consulting, engineering and technical services company serving government and utility customers, Scientech has grown steadily, with 2006 sales of $46 million. Its customers are the leading players in the domestic and international commercial power market, as well as government agencies engaged in nuclear-related activities. The company is headquartered in Idaho Falls, ID and has facilities in Huntsville, AL, Dunedin, FL, Berwick, PA, and New Milford, CT. |
