Ducommun Announces Long-Term Supply Agreement with United Technologies, Expands Aerospace Opportunities
April 28 2015 - 7:00AM
Business Wire
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.
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.”
About Ducommun Incorporated
Founded in 1849, Ducommun Incorporated provides engineering and
manufacturing services to the aerospace, defense, and other
industries through a wide spectrum of electronic and structural
applications. The company is an established supplier of critical
components and assemblies for commercial aircraft and military and
space vehicles as well as for the energy market, medical field, and
industrial automation. It operates through two primary business
units – Ducommun AeroStructures (DAS) and Ducommun LaBarge
Technologies (DLT). Additional information can be found at
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.
Ducommun IncorporatedJoseph P. Bellino, 310-513-7211Vice
President and Chief Financial OfficerorChris Witty,
646-438-9385Investor Relationscwitty@darrowir.com
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