with the Latecoere Group
LOS ANGELES, Apr 20, 2010 (BUSINESS WIRE) --Ducommun Incorporated (NYSE: DCO) today announced that its Ducommun AeroStructures (DAS) unit has been awarded a long-term contract by the Latecoere Group to furnish stretch-formed nose fairing assembly panels for the new Airbus A350. The initial contract will run through 2016, with the first set of panels due to be delivered in the third quarter of 2010. All work will be performed at the DAS Gardena, California and Orange, California facilities; the Airbus A350 currently has over 500 firm orders from 33 customers.
Anthony J Reardon, president and chief executive officer of Ducommun, stated, "This contract expands our existing relationship with Latecoere and provides incremental content on the critical Airbus A350. The award also reaffirms Latecoere's confidence in Ducommun as a growth partner on new platforms, as the statement of work offers the potential for higher-level assemblies in the future. Ducommun continues to focus on the fundamentals - providing value to our customers while increasing the breadth and depth of our product portfolio on the most important air transport vehicles of tomorrow. "
Ducommun AeroStructures manufactures large, complex structural components and assemblies in aluminum, specialty alloys such as titanium, metal bond and composites for a wide variety of military and commercial aerospace applications.
About Ducommun Incorporated
Founded in 1849, Ducommun Incorporated provides engineering and manufacturing services to the aerospace and defense industry. The company is a supplier of critical components and assemblies for commercial aircraft, military aircraft, and missile and space programs through its three business units: Ducommun AeroStructures (DAS), Ducommun Technologies (DTI), and Miltec. Additional information can be found at www.ducommun.com.
The statements made in this press release include forward-looking statements that involve risks and uncertainties.The Company's future financial results could differ materially from those anticipated due to the Company's dependence on conditions in the airline industry, the level of new commercial aircraft orders, production rates for Boeing commercial aircraft, the C-17 and Apache helicopter rotor blade programs, the level of defense spending, competitive pricing pressures, manufacturing inefficiencies, start-up costs and possible overruns on new contracts, technology and product development risks and uncertainties, product performance, risks associated with acquisitions and dispositions of businesses by the Company, increasing consolidation of customers and suppliers in the aerospace industry, possible goodwill impairment, and other factors beyond the Company's control.See the Company's Form 10-K for the year ended December 31, 2009 for a more detailed discussion of these and other risk factors and contingencies.
SOURCE: Ducommun Incorporated
Joseph P. Bellino
Vice President and Chief Financial Officer