Ducommun Announces Long-Term Supply Agreement with UTC, Expands Aerospace Opportunities
Ducommun Incorporated (NYSE: DCO) (“Ducommun” or the “Company”) today announced that it has finalized a long-term supply agreement with United Technologies Corp. (UTC) (NYSE: UTX), expanding the Company’s current involvement on several key programs and opening new opportunities to provide complex electronic and structural assemblies and systems across UTC’s aerospace business units.
“This agreement is a significant milestone in Ducommun’s growth strategy within commercial aerospace. We are proud that our performance and commitment to customer service have earned United Technologies’ confidence and selection of Ducommun as their long-term strategic supplier. United Technologies is at the leading edge of commercial aviation and we are thrilled to support them in the unparalleled growth trajectory anticipated for the aerospace industry,” said Anthony J. Reardon, chairman and chief executive officer.
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Reardon noted that Ducommun is actively engaged in the UTC Supplier Gold program with several of its sites having achieved certified Supplier Gold status and that Ducommun maintains a strong commitment to having all sites supporting UTC achieve Supplier Gold status in the coming years.
“We are very pleased to announce this ‘One Company Agreement’ with Ducommun and commend them for their commitment to meeting UTC’s high standards for quality and performance while ensuring cost competitiveness,” said Sam Abdelmalek, vice president, Global Supply Management and Supply Chain Integration, United Technologies Corp. “UTC’s aerospace businesses are well-positioned for significant growth over the coming years. Suppliers such as Ducommun who commit to our new standards, meet our demanding performance requirements and satisfy our UTV2 cost-savings initiatives will have the opportunity to share in this growth for years to come.”
Source : Ducommun - view original press release