Curtiss-Wright Will Acquire Germany's Phonix Group for $106M

Curtiss-Wright Corporation CW announced today that it has entered into an agreement to acquire the Phönix Group ("Phönix") through the acquisition of 100% of the shares of Phönix Holding GmbH for approximately €82 million ($106 million) in cash. Phönix, headquartered in Germany, is a leading designer and manufacturer of high performance, severe-service valves, valve systems and related support services to the global chemical, petrochemical and power (both conventional and nuclear) markets. The business will become part of Curtiss-Wright's Flow Control segment.