Curtiss-Wright is prepared to invest up to USD1.6 billion to acquire other businesses and is looking at potential deals in several sectors, including defence electronics, according to an official at the US-based company.
"We have plenty of dry powder and the willingness to commit the capital," said Glenn Tynan, senior vice president and chief financial officer at Curtiss-Wright. "It's just finding the right opportunities right now."
Curtiss-Wright would prefer to snap up companies that have strong financial features, including "solid earnings and cash flow", Tynan said on 7 November at the Baird Global Industrial Conference in Chicago.
If potential acquisitions do not materialise, the money available for that purpose could end up funding share repurchases.
Want to read more? For analysis on this article and access to all our insight content, please enquire about our subscription options at ihsmarkit.com/janes