The P-8A Poseidon multi-mission maritime aircraft is a longrange surveillance and reconnaissance aircraft being developed by The Boeing Company for the U.S. Navy. Curtiss-Wright is supplying specialized actuators for the weapons bay door drive system, which opens and closes large doors installed on the bottom of the aircraft.
The success of Curtiss-Wright products for the delayed coking process has stimulated demand for other technological advances, including our controls and automation systems, that manage coker operations and safety interlocks to provide remote control of the coking process. These integrated solutions optimize operations and enhance safety for our customers.
Curtiss-Wright is producing reactor coolant pumps for the first AP1000 nuclear plants to be built. Construction is well underway at two sites in Haiyang and Sanmen, China, and the first plant is on schedule to begin operating in 2016.
Partnerships
The development of long-term relationships with our customers is a critical part of our business mission. We serve a broad spectrum of customers, helping them to develop innovative solutions to difficult challenges. It is common for us to become involved in the concept, design and development stages of our customers' products.
Leveraging the engineering expertise and rigorous requirements of military and nuclear markets to critical applications in the oil and gas market, Curtiss-Wright is expanding its technological leadership in new markets, such as deep-sea oil recovery. In partnership with Petrobras, Brazil's international energy company, and Leistritz Corporation, a manufacturer of specialized displacement pumps, Curtiss-Wright is developing a state-of-the-art, submerged, canned electric motor and multiphase pumping system for deep-sea oil recovery. And through a joint venture, Curtiss-Wright is combining its expertise in rugged, highly reliable, hermetically sealed motors and power distribution and control products with Cameron International's long-standing leadership in subsea capabilities to market and supply subsea multiphase pumping systems to the global deepwater oil industry.
The development of next-generation carrier launching and capture systems for aircraft is an example of a number of suppliers working in partnership to provide the most innovative system. Curtiss-Wright's expertise in electric motors and permanent magnets is integral to the development of the Advanced Arresting Gear (AAG) through energy absorption for the tailhook cables and the Electro-Magnetic Aircraft Launch System (EMALS) energy storage rotors.
Curtiss-Wright's portfolio of nuclear technologies positions the company as a leading authority and supplier of critical technologies needed to maintain the efficient, safe operation of commercial nuclear power plants around the world.
The uncertain long-term storage solution for spent nuclear fuel poses a distinct challenge to operators of the 104 U.S. nuclear power plants. Currently, operators must store spent fuel on-site in above-ground dry storage casks or submerged in spent fuel pools.
To help meet this challenge, we enhanced our spent fuel management solutions through the acquisition of Northeast Technology Corporation (NETCO).
NETCO is a recognized expert in neutron-absorber materials and provides unique spent fuel pool products, services and analysis. Its Snap-In™ insert is a patented neutron-absorber product that extends the life of spent fuel pools and addresses regulatory requirements related to the safe operation of nuclear power plants.
We provide product and service solutions that address the degradation of neutron-absorbing materials in spent nuclear fuel storage racks in addition to numerous analytical services related to nuclear fuel and storage. As a leader in the design analysis of spent fuel racks, Curtiss-Wright provides criticality, thermal and shielding analysis in addition to plant safety, reactor physics, fuel management and licensing support. We also supply a variety of software products used to determine the validity of the neutron absorbers in spent fuel pools and aid utilities in loading spent fuel storage casks.
Spent fuel management is a fast growing market, and Curtiss-Wright is well positioned to aggressively pursue this growth opportunity with ready-for-market products and a strong platform for the development of new, highly engineered technologies aimed at delivering profound value to our customers in the global nuclear power market.
Intrinsic Value
For our shareholders and employees, Curtiss-Wright's diversification over the past decade has added significantly to the company's intrinsic value, fueling balanced, profitable growth. The company's strategy is to focus on highly engineered products serving mission-critical markets so that we best employ our expertise in performance innovation and superior reliability. While investments in organic product and service innovations drive growth, strategic acquisitions improve our ability to expand in the markets we serve and position us for strong forward growth.
To support our customers, during the past decade we acquired nearly 50 businesses. These acquisitions have enabled us to diversify our portfolio into other high-performance market applications, such as commercial nuclear power and oil and gas; expanded our reach in the defense market from aviation into ground platforms; and enhanced our technology portfolio from primarily mechanical to include electro-mechanical and electronic products and systems. Evolving from a customized component supplier to an integrated system supplier provides value to our customers, who demand reliability and performance. For instance, with the acquisition of DeltaValve, followed by that of Valve Systems and Controls, we are able to offer a total system solution to the delayed coking market that is revolutionary in its performance and automation.
Looking Ahead
Curtiss-Wright has changed dramatically over the past 80 years, and no doubt we will do so again over the next 80 years. We are confident that we are well positioned in our major markets to deliver superior products and services to our customers, and we are committed to the evolution of our technologies over time to better meet the needs of our customers. Diversity, commitment to excellence and dedication to the spirit of pioneering innovation will continue to spur the employees of Curtiss-Wright to soar to new heights.