Ducommun Incorporated (NYSE: DCO) today announced that its Ducommun AeroStructures, Inc. (DAS) subsidiary has been awarded an indefinite delivery, indefinite quantity (IDIQ) contract for the V-22 Osprey titanium longeron assemblies. The V-22 Osprey is a multi-mission, military tiltrotor aircraft with both a vertical takeoff and landing (VTOL) and short takeoff and landing (STOL) capabilities. It is designed to perform conventional helicopter missions but with the long-range, high-speed cruise performance of a turboprop aircraft. The V-22 was developed by Bell Helicopter, which manufactures it in partnership with Boeing Rotorcraft Systems. Final assembly of both the left and right longerons will be delivered from DAS’ Coxsackie, NY (DAS–NY) facility. Additionally, other Ducommun manufacturing facilities will support DAS-NY with critical build components.
Tony Reardon, president and chief executive officer of Ducommun, stated, “This is one of the most critical outsourced assemblies that Bell Helicopter has awarded to date on the V-22 program. The contract is indicative of the scope of work we anticipate being awarded with the addition of DAS-NY to the Ducommun family. We are clearly leveraging the synergies in customer base, programs, products and processes in the expanded DAS family to take on more substantial and complex statements of work for our key customers. We believe this award is an indication of the confidence that Bell Helicopter has in Ducommun and our ability to support the V-22 Osprey program.”
About Ducommun, Incorporated
Founded in 1849, Ducommun Incorporated provides engineering and manufacturing services to the aerospace and defense industry. The company is a supplier of critical components and assemblies for commercial aircraft, military aircraft, and missile and space programs through its three business units: Ducommun AeroStructures (DAS), Ducommun Technologies (DTI), and Miltec. Additional information can be found at www.ducommun.com.
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, 2008 and Form 10-Q for the quarter ended October 3, 2009 for a more detailed discussion of these and other risk factors and contingencies.
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