Initial Award Deliveries and Qualification on Track for Airbus A320 Nacelle Award
SANTA ANA, Calif., June 18, 2019 — Ducommun Incorporated (NYSE: DCO) today announced that production deliveries of composite closeout panels included in the Middle River Aircraft Systems (MRAS) award announced last August are now in full production. In addition, the proprietary VersaCore Composite™ blocker doors are on track for final qualification and 2020 production deliveries.
The blocker door component package is part of the thrust reverser system used on the engine nacelles. Ducommun collaborated with MRAS to design the composite structural design. The product will be produced at Ducommun’s Guaymas, Mexico facility, which is being industrialized to meet the estimated $200 million in revenue through 2029.
“We are pleased to report that production of the first parts, closeout panels, included in MRAS’ award are now being delivered to Middle River Aircraft Systems for use on the Airbus A320 nacelles. We are excited about the future of Ducommun’s VersaCore Composite™ technology being on this important nacelle platform and are also pursuing other applications that will provide high value to our customers,” said Stephen G. Oswald, chairman, president and chief executive officer of Ducommun Incorporated.
Innovative VersaCore Composite™ proprietary composite technology was first launched in 2016, and is currently used on commercial and military aircraft structures, including aircraft engine nacelles. The technology offers integrated component design while also providing lower cost along with high part integrity and strength. For customers, this means favorable cost, fewer parts, reduced assembly time and reduced amounts of inventory to manage. Other ideal applications include aircraft doors, flight control surfaces, fairings, ducts and contoured parts.
About Ducommun Incorporated
Ducommun Incorporated delivers value-added innovative manufacturing solutions to customers in the aerospace, defense and industrial markets. Founded in 1849, the company specializes in two core areas – Electronic Systems and Structural Systems – to produce complex products and components for commercial aircraft platforms, mission-critical military and space programs, and sophisticated industrial applications. For more information, visit www.ducommun.com.
This press release includes "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including relating to the program discussed above. We generally use the words “believe,” “estimate,” and similar expressions in this press release to identify forward-looking statements. These statements are based on assumptions currently believed to be valid, but they involve risks and uncertainties that could cause our actual results to differ materially from those expressed in the forward looking statements. Important uncertainties that could cause our actual results to differ from those expressed in the forward looking statements are identified in our reports filed with the SEC, including our Quarterly Reports on Form 10-Q, our Annual Reports on Form 10-K, and our Current Reports on Form 8-K. The forward looking statements included in this press release are made only as of the date of this press release, and Ducommun does not undertake any obligation to (and expressly disclaims any such obligation to) update the forward looking statements to reflect subsequent events or circumstances.
Christopher D. Wampler, Vice President, Interim Chief Financial Officer and Chief Accounting Officer, 310.513.7290