Ducommun Awarded $15 Million in Contracts from Raytheon for Tomahawk Cruise Missile
LOS ANGELES--(BUSINESS WIRE)-- Ducommun Incorporated (NYSE: DCO ) has received $15 million in follow-on contracts from Raytheon (NYSE: RTN ) to continue producing a variety of interconnect and electronic assemblies for the U.S. Navy's Tomahawk cruise missile. The awards extend Ducommun’s work on the program through 2015; Ducommun LaBarge Technologies is a Raytheon preferred supplier and recipient of Raytheon's Six Sigma Relationship Award as well as the prestigious Leadership Excellence Award.
"Ducommun is very pleased to continue supporting one of the Navy's most sophisticated weapons by providing our electronics manufacturing expertise to Raytheon on the Tomahawk Block IV," said Anthony J. Reardon, chairman, president and chief executive officer.
With a range of 1,000 miles, the Tomahawk Block IV is a surface- and submarine-launched, precision-strike, stand-off weapon. Tomahawk cruise missiles can fly into heavily defended airspace and precisely strike high-value targets with minimal collateral damage; in addition, a Tomahawk can loiter, shift course instantly on command, and transmit a picture of its target to controllers halfway around the world.
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 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, any difficulties, delays or failure in, or unanticipated costs of, realizing the expected synergies of the LaBarge acquisition, 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.
Joseph P. Bellino
Vice President and Chief Financial Officer
Chris Witty, Investor Relations
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