View printer-friendly version Ducommun Incorporated Announces $75 Million Contract for Fuselage Panel Assemblies for Ruag Aerospace Ltd.
LOS ANGELES, California (May 4, 2009) -- Ducommun Incorporated (NYSE: DCO) today announced that its Ducommun AeroStructures, Inc. (DAS) subsidiary has been awarded a long-term contract by RUAG Aerospace Ltd. of Switzerland to furnish Aft Fuselage Panel Assemblies for the Bombardier CRJ700/900/1000* NextGen* regional jets. The initial contract will run through 2012 and is valued at approximately $75 million at anticipated build rates. The first set of panel assemblies is to be delivered in the third quarter of 2009 with ramp-up to production starting by first quarter of 2010. All work will be performed at DAS’s Gardena, California and Orange, California facilities.
Joseph C. Berenato, chairman, and chief executive officer of Ducommun, stated, “We are pleased to have been awarded this contract as it adds Ruag to our expanding list of key customers, the Bombardier CRJ700/900/1000 NextGen regional jets to our list of key programs, and major panel assembly to our list of key competencies. These panel assemblies move Ducommun to a higher level of value-add in our aerostructures business. We believe that this contract reaffirms a growing awareness in the aerospace marketplace of Ducommun’s ability to provide increasingly complex solutions for our key customers making us more important to them.”
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.
* CRJ700, CRJ900, CRJ1000 and NextGen are trademarks of Bombardier Inc. or its subsidiaries.
Joseph C. Berenato, chairman, and chief executive officer of Ducommun, stated, “We are pleased to have been awarded this contract as it adds Ruag to our expanding list of key customers, the Bombardier CRJ700/900/1000 NextGen regional jets to our list of key programs, and major panel assembly to our list of key competencies. These panel assemblies move Ducommun to a higher level of value-add in our aerostructures business. We believe that this contract reaffirms a growing awareness in the aerospace marketplace of Ducommun’s ability to provide increasingly complex solutions for our key customers making us more important to them.”
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.
* CRJ700, CRJ900, CRJ1000 and NextGen are trademarks of Bombardier Inc. or its subsidiaries.