LOS ANGELES--(BUSINESS WIRE)--Mar. 28, 2016--
Ducommun Incorporated (NYSE: DCO) (“Ducommun” or the “Company”) today
announced the completion of the previously announced sale of its Miltec
Corporation subsidiary to General Atomics. Miltec provides engineering,
technical and program management services principally to the U.S.
Department of Defense and U.S. intelligence agencies for advanced
weapons systems and military defense systems. As previously announced,
the total purchase price was $14.6 million in cash, subject to
post-closing adjustments. The Company intends to use net proceeds from
the sale to reduce debt.
About Ducommun Incorporated
Ducommun Incorporated delivers innovative manufacturing solutions to
customers in the aerospace, defense and industrial markets. Founded in
1849, the company specializes in two core areas – Electronic Systems and
Structural Systems – to produce complex products and components for
commercial aircraft platforms, mission-critical military and space
programs, and sophisticated industrial applications. For more
information, visit 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.
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Source: Ducommun Incorporated
Ducommun Incorporated
Douglas L. Groves, Vice President, Chief
Financial Officer and Treasurer
310.513.7200
or
Chris
Witty, Investor Relations
646.438.9385
cwitty@darrowir.com