Ducommun Receives Contract from Raytheon for TOW Missiles
Ducommun Incorporated (NYSE: DCO) (“Ducommun” or the “Company”) has received a follow-on award from Raytheon Company (NYSE: RTN) to continue providing complex wiring harnesses and printed circuit card assemblies for the TOW (tube-launched, optically-tracked, wireless-guided) weapon system. The contract extends the Company’s support of the program through 2014, with production taking place at Ducommun’s facilities in Berryville, Ark. and Tulsa, Okla.
"We’re very proud to support this enduring program and provide our troops with the ruggedized electronics behind Raytheon’s next-generation TOW weapon system," said Anthony J. Reardon, chairman and chief executive officer of Ducommun. “We have a longstanding relationship with Raytheon on the TOW program and look forward to serving them for many years to come.”
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The TOW weapon system includes a family of attack missiles and is designed to destroy a broad range of targets – from main battle tanks to reinforced urban fortifications. TOW is used by more than 40 international armed forces worldwide and integrated into over 15,000 ground, vehicle and helicopter platforms. December, 2012 marked the 50th anniversary of the TOW Missile Program, with more than 650,000 missiles produced. The TOW weapon system is expected to be in service with the U.S. military beyond 2025.
Source : Ducommun Incorporated - view original press release