View printer-friendly version Ducommun Incorporated Announces Long Term Agreement for Titanium Exhaust Ducts for the V-22 Osprey
LOS ANGELES, California (April 8, 2009) -- Ducommun Incorporated (NYSE: DCO) today announced that its Ducommun AeroStructures, Inc. (DAS) subsidiary has been awarded a V-22 Multi-Year Procurement Program (MYP) contract through 2012 for the V-22 Osprey titanium EAPS exhaust ducts. The V-22 Osprey is a multi-mission, military tiltrotor aircraft with both a vertical takeoff and landing (VTOL) and short takeoff and landing (STOL) capability. It is designed to perform missions like a conventional helicopter but with the long-range, high-speed cruise performance of a turboprop aircraft. The V-22 was developed by Bell Helicopter, which manufactures it in partnership with Boeing Rotorcraft Systems. All work will be performed at DAS’s Coxsackie, NY (DAS – NY) facility.
Joseph C. Berenato, chairman, and chief executive officer of Ducommun, stated, “This contract is indicative of the scope of work we expect to win with the addition of DAS-NY to the Ducommun family. Further, we expect to exploit the synergies in customer base, programs, products and processes in the expanded DAS family to take on higher value added statements of work for our key customers. Finally, we believe this award is an indication of the confidence both The Boeing Company and Bell Helicopter have in Ducommun and our ability to support the V-22 Osprey program.”
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.
Founded in 1849, Ducommun Incorporated provides engineering and manufacturing services to 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, 2008 for a more detailed discussion of these and other risk factors and contingencies.
Joseph C. Berenato, chairman, and chief executive officer of Ducommun, stated, “This contract is indicative of the scope of work we expect to win with the addition of DAS-NY to the Ducommun family. Further, we expect to exploit the synergies in customer base, programs, products and processes in the expanded DAS family to take on higher value added statements of work for our key customers. Finally, we believe this award is an indication of the confidence both The Boeing Company and Bell Helicopter have in Ducommun and our ability to support the V-22 Osprey program.”
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.
Founded in 1849, Ducommun Incorporated provides engineering and manufacturing services to 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, 2008 for a more detailed discussion of these and other risk factors and contingencies.