Proprietary VersaCore Composite™ Technology Reduces Weight, Cost
SANTA ANA, Calif., Aug. 15, 2018 (GLOBE NEWSWIRE) -- Ducommun Incorporated (NYSE: DCO) today announced the award of a long term contract to produce nacelle components using its proprietary VersaCore Composite™ technology for a leading engine OEM to support a high rate single aisle commercial aircraft. The contract is valued at greater than $200 million and runs through 2029. Ducommun will complete the composite product design and process development in 2018-19 and expects to begin full production in 2020.
"Ducommun's VersaCore Composite™ process is a game-changing technology that enables the manufacture of lightweight aircraft structures at a lower cost without compromising strength for our Aerospace and Defense customers," said Stephen G. Oswald, Ducommun's chairman, president and chief executive officer. "VersaCore Composite™ is an important part of Ducommun's portfolio of proprietary solutions that provide innovative manufacturing expertise. The Nacelle components will also be mainly produced in Ducommun's low cost Guaymas, Mexico facility, leveraging our footprint."
VersaCore Composite™ proprietary composite technology is currently used on commercial and military aircraft structures, including aircraft engine nacelles. Other ideal applications include aircraft doors, flight control surfaces, fairings, ducts and contoured parts. The technology offers integrated component design while providing high part strength and integrity. For customers, this means fewer parts, reduced assembly time and lower amounts of inventory to manage.
About Ducommun Incorporated
Ducommun Incorporated delivers value-added 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.
This press release includes "forward looking statements" relating to the program discussed above. These statements are based on assumptions currently believed to be valid, but they involve risks and uncertainties that could cause our actual results to differ materially from those expressed in the forward looking statements. Important uncertainties that could cause our actual results to differ from those expressed in the forward looking statements are identified in our reports filed with the SEC, including our Quarterly Reports on Form 10-Q, our Annual Reports on Form 10-K, and our Current Reports on Form 8-K. The forward looking statements included in this press release are made only as of the date of this press release, and Ducommun does not undertake any obligation to (and expressly disclaims any such obligation to) update the forward looking statements to reflect subsequent events or circumstances.
Douglas L. Groves, Vice President, Chief Financial Officer and Treasurer, 310.513.7224
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