View printer-friendly versionDucommun Incorporated Acquires Wisewave Technologies, Inc.
LOS ANGELES, California (May 11, 2006) -- Ducommun Incorporated (NYSE:DCO) today announced that its Ducommun Technologies, Inc. (DTI) subsidiary has acquired the capital stock of WiseWave Technologies, Inc. (WiseWave), a privately held company based in Torrance, California. WiseWave is a manufacturer of custom microwave and millimeterwave products for both aerospace and non-aerospace applications. WiseWave’s sales for the last twelve months were approximately $4.4 million. Terms of the transaction were not disclosed. The principal shareholders, Yonghui Shu and Xiaoxin Gu, will remain with the business. Following the acquisition the WiseWave business will be integrated with DTI’s Carson, California microwave business.
Joseph C. Berenato, chairman, president and chief executive officer, stated, “The addition of WiseWave broadens our microwave product line and adds millimeterwave products to our offerings. In addition, the proximity of WiseWave’s facility to our Carson, California operation allows us to consolidate WiseWave’s operations into our existing footprint without affecting the commute for WiseWave employees. Therefore, this acquisition brings us a talented array of people in engineering, sales and product assembly as well as broadening our product offering which will help us to become more important to our key customers.”
Ducommun Technologies is a leading technology company with design, development, manufacturing, integration, and test capabilities in the areas of missiles, space, sensor, simulation, complex electronic/mechanical assemblies, illuminated cockpit displays, RF systems and space qualified motion control devices.
Founded in 1849, Ducommun Incorporated provides engineering and manufacturing services for the aerospace and defense industry.
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, availability of raw materials and components from suppliers, and other factors beyond the Company’s control. See the Company’s Form 10-K for the year ended December 31, 2005 and Form 10-Q for the quarter ended April 1, 2006 for a more detailed discussion of these and other risk factors and contingencies.
Joseph C. Berenato, chairman, president and chief executive officer, stated, “The addition of WiseWave broadens our microwave product line and adds millimeterwave products to our offerings. In addition, the proximity of WiseWave’s facility to our Carson, California operation allows us to consolidate WiseWave’s operations into our existing footprint without affecting the commute for WiseWave employees. Therefore, this acquisition brings us a talented array of people in engineering, sales and product assembly as well as broadening our product offering which will help us to become more important to our key customers.”
Ducommun Technologies is a leading technology company with design, development, manufacturing, integration, and test capabilities in the areas of missiles, space, sensor, simulation, complex electronic/mechanical assemblies, illuminated cockpit displays, RF systems and space qualified motion control devices.
Founded in 1849, Ducommun Incorporated provides engineering and manufacturing services for the aerospace and defense industry.
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, availability of raw materials and components from suppliers, and other factors beyond the Company’s control. See the Company’s Form 10-K for the year ended December 31, 2005 and Form 10-Q for the quarter ended April 1, 2006 for a more detailed discussion of these and other risk factors and contingencies.