Ducommun Incorporated Announces $9.0 Million in Radar System Contract AwardsJuly 14, 2004 07:30 AM US Eastern Timezone
LOS ANGELES -July 14, 2004--Ducommun Incorporated (NYSE:DCO) today announced that its Ducommun Technologies, Inc. (DTI) subsidiary has been awarded two contracts from Raytheon Company and The Boeing Company totaling $9.0 million for the manufacture and subsystem integration of radar racks and electromechanical enclosures for the APG-73 radar system on the F/A 18 aircraft. The period of performance is through 2005 and the work will be performed at DTI's Phoenix and Fort Defiance, Arizona facilities.
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Joseph C. Berenato, chairman and chief executive officer of Ducommun, stated, "We are very pleased by the award of these contracts which reaffirm our commitment to both OEM and upgrade programs in the defense electronics market segment. The mechanical chassis fabrication and assembly will be done at our Phoenix location, and the electronics assembly, integration and test will be done at our Fort Defiance, Arizona location. Fort Defiance not only allows us to provide Small Disadvantaged Business (SDB) credits to our customers, but also allows us to expand the scope of value added work which we perform on these radar enclosures."
Ducommun Technologies designs, engineers, manufactures and integrates complex mechanical and electromechanical subsystems, as well as a variety of components such as illuminated push button switches, high-reliability microwave and RF signal processing components, fractional horsepower motors and resolvers for the defense, electronics and commercial aviation industries.
Founded in 1849, Ducommun Incorporated manufactures components and assemblies for the aerospace 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, 2003 and Form 10-Q for the quarter ended April 3, 2004 for a more detailed discussion of these and other risk factors and contingencies.
Joseph C. Berenato, (562) 951-1751
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Source : Ducommun