Ducommun Completes Divestiture of Miltec Corporation
March 28 2016 - 7:00AM
Business Wire
Ducommun Incorporated (NYSE: DCO) (“Ducommun” or the “Company”)
today announced the completion of the previously announced sale of
its Miltec Corporation subsidiary to General Atomics. Miltec
provides engineering, technical and program management services
principally to the U.S. Department of Defense and U.S. intelligence
agencies for advanced weapons systems and military defense systems.
As previously announced, the total purchase price was $14.6 million
in cash, subject to post-closing adjustments. The Company intends
to use net proceeds from the sale to reduce debt.
About Ducommun Incorporated
Ducommun Incorporated delivers 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.
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.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160328005174/en/
Ducommun IncorporatedDouglas L. Groves, Vice President, Chief
Financial Officer and Treasurer310.513.7200orChris Witty, Investor
Relations646.438.9385cwitty@darrowir.com
Ducommun (NYSE:DCO)
Historical Stock Chart
From Aug 2024 to Sep 2024
Ducommun (NYSE:DCO)
Historical Stock Chart
From Sep 2023 to Sep 2024