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CIRCOR Acquires Motor Technology, Inc.

BURLINGTON, Mass., May 21 /PRNewswire-FirstCall/ -- CIRCOR International, Inc. (NYSE:CIR) today announced that it has completed the acquisition of Motor Technology, Inc. of Dayton, Ohio a specialized manufacturer of electric motors and electromechanical equipment for the aerospace, defense, medical and transportation markets with annual revenues of approximately $5 million.

Motor Technology has been a leader for over 25 years in the design and manufacture of fractional horsepower DC motors, gear motors and brake motors. Motor Technology products can be found on commercial and defense aerospace applications, including the Boeing commercial family of aircraft, the F/A-22 Raptor and F-35 Joint Strike Fighter.

This acquisition will be part of the Company's CIRCOR Aerospace Products business unit which is a global leader in design, manufacture and test of complex aerospace and defense fluid controls, control and actuation systems and integrated landing gear assemblies. CIRCOR Aerospace has Manufacturing and Design centers in North America, Europe and Asia, producing aerospace products under the Circle Seal, LOUD, Aerodyne and Industria brand names.

Commenting on the transaction, Bill Higgins, Chief Executive Officer, CIRCOR International, stated: "Over the last 25 years, Motor Technology has developed an excellent reputation as a supplier of highly engineered and reliable DC electric motors and other components. These components complement our existing aerospace products and enhance our ability to offer electronic subsystems. We look forward to working with the employees to integrate Motor Technology into CIRCOR utilizing our Lean manufacturing business system."

CIRCOR International, Inc. is a global diversified manufacturer of valves, fluid control products and highly engineered components used by customers around the world in the energy, instrumentation, thermal fluid and aerospace markets. CIRCOR's executive headquarters are located at 25 Corporate Drive, Burlington, MA 01803.

This press release contains certain statements that are "forward-looking statements" as that term is defined under the Private Securities Litigation Reform Act of 1995 (the "Act") and releases issued by the Securities and Exchange Commission (SEC). The words "may," "hope," "should," "expect," "plan," "anticipate," "intend," "believe," "estimate," "predict," "potential," "continue," and other expressions which are predictions of or indicate future events and trends and which do not relate to historical matters identify forward-looking statements. We believe that it is important to communicate our future expectations to our stockholders, and we, therefore, make forward-looking statements in reliance upon the safe harbor provisions of the Act. However, there may be events in the future that we are not able to accurately predict or control, and our actual results, performance or achievements may differ materially from the expectations we describe in our forward-looking statements.

Source: CIRCOR International, Inc.

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