CW

Curtiss-Wright Agrees To Buy Ultra Energy For $200 Mln

(RTTNews) - Curtiss-Wright Corp. (CW), Monday announced that it has entered into an agreement to acquire Ultra Nuclear Ltd. and Weed Instrument Co., Inc., a subsidiary of Ultra Electronics, for $200 million in cash.

The acquisition, expected to close in the third quarter, would leverage Curtiss-Wright's business through market expansion, modernization of existing nuclear plants, and design of new advanced power plants.

Further, the company expects the profit of Ultra Energy, which generated revenue of around $65 million in 2023, to be accretive to Curtiss-Wright in its first year of full ownership.

At present, Ultra Energy employs approximately 300 people.

Currently, Curtiss-Wright's stock is trading at $283.68, up 0.30 percent on the New York Stock Exchange.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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