View printer-friendly version Ducommun Incorporated Announces New Organizational Structure
LOS ANGELES, California (January 8, 2008) -- Ducommun Incorporated (NYSE: DCO) today announced a new organizational structure. Anthony J. Reardon, president of Ducommun AeroStructures, has been elected as Ducommun’s president and chief operating officer. Mr. Reardon also will continue as president of Ducommun AeroStructures and will become president of Ducommun Technologies. In those roles, Mr. Reardon will be responsible for all of the Company’s operating units. John J. Walsh, formerly president of Ducommun Technologies, has been elected as Ducommun’s vice president for strategy and technology. Mr. Walsh’s responsibilities will include driving the Company’s product technology roadmap (TPRM) and developing program-oriented partnerships with prime and first tier aerospace companies.
Joseph C. Berenato, chairman and chief executive officer of Ducommun, stated, “The top priorities of our new organizational structure are to provide better service and greater capability to our customers while improving our operational efficiency. By enhancing our focus on common systems, procedures and services, we expect to provide even stronger support to our customers in terms of quality, delivery and price. By creating a unified effort to map the future direction of the Company in terms of strategy and capability, we expect to increase our importance to our key customers by providing subassemblies and subsystems driven by an increasing engineered product and service capability.”
Mr. Berenato continued, “Today’s announcement represents another step forward in our transformation to becoming a higher value added supplier of engineered products and services organized as a single operating company. In so doing we strive to create greater value for our shareholders.”
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, 2006 and Form 10-Q for the quarter ended September 29, 2007 for a more detailed discussion of these and other risk factors and contingencies.
Joseph C. Berenato, chairman and chief executive officer of Ducommun, stated, “The top priorities of our new organizational structure are to provide better service and greater capability to our customers while improving our operational efficiency. By enhancing our focus on common systems, procedures and services, we expect to provide even stronger support to our customers in terms of quality, delivery and price. By creating a unified effort to map the future direction of the Company in terms of strategy and capability, we expect to increase our importance to our key customers by providing subassemblies and subsystems driven by an increasing engineered product and service capability.”
Mr. Berenato continued, “Today’s announcement represents another step forward in our transformation to becoming a higher value added supplier of engineered products and services organized as a single operating company. In so doing we strive to create greater value for our shareholders.”
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, 2006 and Form 10-Q for the quarter ended September 29, 2007 for a more detailed discussion of these and other risk factors and contingencies.