LOS ANGELES--(BUSINESS WIRE)--May 19, 2015--
Ducommun
Incorporated (NYSE:DCO) (“Ducommun” or the “Company”) today reported
it has received multimillion dollar contracts from Gulfstream Aerospace
Corp., a wholly owned subsidiary of General Dynamics (NYSE: GD), to
support the G500
and G600 – a new family of large-cabin, long-range business jets.
Ducommun will be the sole source supplier of the titanium auxiliary
power unit inlet duct and the cooler duct for these aircraft. Ducommun
engineers designed and will oversee the testing of the titanium ducts.
In addition, the Company will manufacture a variety of other titanium
components for both aircraft.
“This is a great win for Ducommun, which will significantly expand our
presence with Gulfstream going forward,” said Anthony J. Reardon,
chairman and chief executive officer. “We remain committed to growing
within all areas of the commercial aerospace market, including larger
business jets, and these titanium awards position us for increased
penetration in the years to come. We look forward to working with
Gulfstream as they launch the G500 and G600.”
Unveiled in October 2014, the Gulfstream G500 and G600 are meant to
optimize speed, wide-cabin comfort and efficiency and offer
best-in-class performance, with advanced safety features. The first
flight of the G500 is scheduled for later this year, and Gulfstream
expects to receive type certification during 2017 – with deliveries set
to begin in 2018. The G600 flight-test program is anticipated to begin
approximately 12 to 18 months after the G500 and enter service in 2019.
Ducommun has produced electronics and structures for a variety of
Gulfstream aircraft, including the G450/G550/G650. Ducommun will produce
the titanium components under these contracts at its operations centers
in Coxsackie, N.Y., and Parsons, Kan., which was named a Gulfstream
Supplier of the Year in 2011.
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150519005455/en/
Source: Ducommun Incorporated
Ducommun Incorporated
Joseph P. Bellino, 310-513-7211
Vice
President and Chief Financial Officer
or
Chris Witty,
646-438-9385
Investor Relations
cwitty@darrowir.com
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