NJBIZ STAFF//August 9, 2005//
Roseland”s Curtiss-Wright (NYSE: CW) Monday announced the acquisition of Groth Equipment Corp. of Louisiana (Groquip), a provider of products and services for the hydrocarbon and chemical processing industries, for $4.6 million in cash and stock.Groquip, which is headquartered in Geismar, Louisiana, is a manufacturer”s sales representative for rupture discs, conservation vents, fire and gas detectors and pressure relief valves. The company also provides field and in-shop service and repairs for pressure relief valves and a variety of specialty valves and employs about 63 people. It had sales of $10 million in 2003.Curtiss-Wright said Groquip will operate as a business unit of the flow control segment of Curtiss-Wright.”This acquisition supports our long term strategy to strengthen our operations in the Gulf Coast region,” Martin R. Benante, chairman and CEO of Curtiss-Wright, said.”Ultimately, this creates a much stronger platform to directly serve our customers and other Gulf Coast assemblers in one of the largest processing markets in the world.” At the close of trading, Curtiss-Wright shares were up $0.29 to $55.90.