LOS ANGELES--(BUSINESS WIRE)--Dec. 3, 2013--
Ducommun Incorporated (NYSE: DCO) (“Ducommun” or the “Company”) has
received a multiyear contract from Parker Aerospace, a unit of Parker
Hannifin Corporation (NYSE: PH), to produce complex printed circuit
board assemblies for use in the fuel management system of the AirbusA350
family of commercial aircraft. The award has a potential value in excess
of $20 million over the contract period, and is expected to begin
production in mid-2014.
“This represents our first major Airbus contract with Parker Aerospace
and, we believe, reflects their confidence in Ducommun as a trusted and
capable manufacturing supplier,” said Anthony J. Reardon, chairman,
president and chief executive officer. “We look forward to continuing
and growing a mutually beneficial relationship and are pleased they have
chosen Ducommun to support a critical system on the Airbus A350. We see
a great future expanding our business on the Airbus platforms,
particularly through partnerships with companies such as Parker
Aerospace.”
Ducommun also has begun manufacturing printed circuit board assemblies
for a retrofit fuel tank inerting system (FTIS) being deployed on
various aircraft throughout the Airbus fleet. The FTIS work, which was
awarded under a separate contract from Parker Aerospace, is valued at
more than $1 million through September 2014, and Ducommun anticipates
follow-on orders. Production of the printed circuit board assemblies for
both contracts will take place at Ducommun’s Appleton, Wis., facility.
About Ducommun Incorporated
Founded in 1849, Ducommun Incorporated provides engineering and
manufacturing services to the aerospace, defense, and other industries
through a wide spectrum of electronic and structural applications. The
company is an established supplier of critical components and assemblies
for commercial aircraft and military and space vehicles as well as for
the energy market, medical field, and industrial automation. It operates
through two primary business units – Ducommun AeroStructures (DAS) and
Ducommun LaBarge Technologies (DLT). Additional information can be found
at www.ducommun.com.
Statements contained in this press release regarding other than
recitation of historical facts are forward-looking statements. These
statements are identified by words such as “may,” “will,” “ begin,” “
look forward,” “expect,” “believe,” “intend,” “anticipate,” “should,”
“potential,” “estimate,” “continue,” “momentum” and other words
referring to events to occur in the future. These statements reflect the
Company’s current view of future events and are based on its assessment
of, and are subject to, a variety of risks and uncertainties beyond its
control, including, but not limited to, the state of the world
financial, credit, commodities and stock markets, and uncertainties
regarding the Company, its businesses and the industries in which it
operates, which are described in the Company’s filings with the
Securities and Exchange Commission. The Company is under no obligation
to (and expressly disclaims any such obligation to) update or alter its
forward-looking statements whether as a result of new information,
future events or otherwise.
Source: Ducommun Incorporated
Ducommun Incorporated
Joseph P. Bellino, 310-513-7211
Vice
President and Chief Financial Officer
or
Investor Relations
Chris
Witty, 646-438-9385
cwitty@darrowir.com
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