View printer-friendly version Ducommun Incorporated Announces Award of $102 Million Radar System Multi-Year Agreement
LOS ANGELES, California (December 10, 2008) -- Ducommun Incorporated (NYSE: DCO) today announced that its Ducommun Technologies, Inc. (DTI) subsidiary has been awarded a multi-year agreement from The Raytheon Company with a total potential value exceeding $102 million.
The contract is for the manufacture and sub-system integration of radar racks and electromechanical enclosures for the active electronically scanned array radar system (APG-79) used on the F/A-18 E/F Super Hornet aircraft and the Radar Modernization Program (RMP) for the F- 15E aircraft. This agreement is for the period of performance through 2020. The manufacture and sub-system integration work will be performed at DTI’s Phoenix, Arizona Integrated Electrical Sub-Assembly center of excellence.
Joseph C. Berenato, chairman and chief executive officer of Ducommun, stated, “We are very pleased by the award of this long-term agreement which demonstrates our customer’s confidence in DTI’s capability to manufacture and integrate this very complex assembly. We are very proud to be a part of the APG-79 program which is central to our strategy of driving internal growth through programs which combine our mechanical assembly, electronic assembly, integration and testing capabilities.”
Ducommun Technologies designs, engineers, manufactures and integrates complex mechanical and electromechanical subsystems, as well as a variety of components such as illuminated push button switches, high-reliability microwave and RF signal processing components, fractional horsepower motors and resolvers for the defense, electronics and commercial aviation industries.
Founded in 1849, Ducommun Incorporated manufactures components and assemblies for the aerospace 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, 2007 and Form 10-Q for the quarter ended September 27, 2008 for a more detailed discussion of these and other risk factors and contingencies.
The contract is for the manufacture and sub-system integration of radar racks and electromechanical enclosures for the active electronically scanned array radar system (APG-79) used on the F/A-18 E/F Super Hornet aircraft and the Radar Modernization Program (RMP) for the F- 15E aircraft. This agreement is for the period of performance through 2020. The manufacture and sub-system integration work will be performed at DTI’s Phoenix, Arizona Integrated Electrical Sub-Assembly center of excellence.
Joseph C. Berenato, chairman and chief executive officer of Ducommun, stated, “We are very pleased by the award of this long-term agreement which demonstrates our customer’s confidence in DTI’s capability to manufacture and integrate this very complex assembly. We are very proud to be a part of the APG-79 program which is central to our strategy of driving internal growth through programs which combine our mechanical assembly, electronic assembly, integration and testing capabilities.”
Ducommun Technologies designs, engineers, manufactures and integrates complex mechanical and electromechanical subsystems, as well as a variety of components such as illuminated push button switches, high-reliability microwave and RF signal processing components, fractional horsepower motors and resolvers for the defense, electronics and commercial aviation industries.
Founded in 1849, Ducommun Incorporated manufactures components and assemblies for the aerospace 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, 2007 and Form 10-Q for the quarter ended September 27, 2008 for a more detailed discussion of these and other risk factors and contingencies.