LOS ANGELES, May 25, 2010 (BUSINESS WIRE) --Ducommun Incorporated (NYSE:DCO) today announced that its Ducommun AeroStructures (DAS) subsidiary has been awarded a long-term contract by Boeing (NYSE:BA) to furnish empennage vertical and horizontal fin tip assemblies for the Boeing 777, with the first set of tip assemblies to be delivered during the first quarter of 2011. Work will be performed at the DAS Monrovia, Gardena, and Orange, California facilities, along with the Company's Guaymas, Mexico operations.
Anthony J. Reardon, president and chief executive officer of Ducommun, stated, "We are very pleased by the award of this latest 777 contract, as it truly represents our 'One Ducommun' philosophy - incorporating four of our facilities across North America. These tail assemblies will leverage our core competencies in composites, metal-bond, and metallic forming, as well as take advantage of our efficient assembly operations in Guaymas, Mexico. This award reaffirms Boeing's confidence in Ducommun as a growth partner, and such higher level assemblies once again illustrate Ducommun's success in providing complex, value-added solutions to our key customers worldwide."
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