Ducommun Incorporated Announces Award of TOW Missile Order from Raytheon Missiles and Defense for Guaymas, Mexico
June 20 2024 - 5:30AM
Ducommun Incorporated (NYSE: DCO) (“Ducommun” or the
“Company”), a global supplier of innovative electronic and
structural solutions for the aerospace & defense industry, is
proud to announce the receipt of a major award totaling over $12M
in revenue for Raytheon’s TOW missile system. This award represents
the first order for this legacy program that will now be produced
at the Company’s world-class engineering and manufacturing
performance center in Guaymas, Mexico with the previous production
location being at Ducommun’s Monrovia, California facility.
“We are thrilled to continue to earn the trust and confidence of
Raytheon and welcome the opportunity to support the needs of our
nation and the warfighter. As mentioned on previous earning calls,
the TOW program demand for Ducommun had a pause over the past year
due to the timing of orders but our value proposition for this
program is world class and we had high confidence the customer
would come back for additional orders and support. This is also
another important milestone for us as we continue to execute on our
Vision 2027 strategy which includes transferring meaningful work to
our low-cost, high productivity operation in Guaymas, Mexico,” said
Stephen G. Oswald, chairman, president, and chief executive
officer. “Raytheon continues to treat us as a true partner, which
we very much appreciate and as always remain relentless in our
pursuit of building value for our customers and shareholders."
Ducommun currently provides Raytheon with electronics,
controllers, circuit card assemblies, harness cable assemblies and
structural products on both legacy and emerging programs.
About Ducommun IncorporatedDucommun
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
Ducommun.com.
About RTX CorporationRTX is the world's
largest aerospace and defense company. With more than 185,000
global employees, it pushes the limits of technology and science to
redefine how it connects and protects our world. Through
industry-leading businesses – Collins Aerospace, Pratt &
Whitney, and Raytheon – it is advancing aviation, engineering
integrated defense systems for operational success, and developing
next-generation technology solutions and manufacturing to help
global customers address their most critical challenges.
Forward-Looking StatementsThis press release
includes "forward looking statements" within the meaning of the of
the federal securities laws relating to Ducommun Incorporated,
including statements relating to Ducommun’s expectations pertaining
to opportunities and the Company’s ability to execute under
agreements with its key customers and similar expressions that
concern Ducommun’s intentions or beliefs about future occurrences,
expectations, or results. Forward looking statements are subject to
risks, uncertainties and other factors that may change over time
and may cause actual results to differ materially from those that
are expected. It is very difficult to predict the effect of known
factors, and Ducommun cannot anticipate all factors that could
affect actual results that may be important to an investor. All
forward-looking information should be evaluated in the context of
these risks, uncertainties, and other factors, including those
factors disclosed under “Risk Factors” in our reports filed with
the SEC, including the Company’s Quarterly Reports on Form 10-Q,
Annual Reports on Form 10-K, Current Reports on Form 8-K and its
other filings with the SEC. 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.
MEDIA CONTACTS:Suman Mookerji, Senior Vice
President, Chief Financial Officer,
657.335.3665SMookerji@ducommun.com
Ducommun (NYSE:DCO)
Historical Stock Chart
From Oct 2024 to Nov 2024
Ducommun (NYSE:DCO)
Historical Stock Chart
From Nov 2023 to Nov 2024