Ducommun Acquires Certified Thermoplastics Co., LLC
April 23 2018 - 7:00AM
Ducommun Incorporated (NYSE:DCO) (“Ducommun” or the “Company”)
today announced that it has completed the acquisition of Certified
Thermoplastics Co., LLC (“CTP”), based in Santa Clarita,
Calif. Founded in 1978, CTP is a leader in precision profile
extrusions and extruded assemblies of engineered thermoplastic
resins, compounds and alloys for a wide range of commercial
aerospace, defense, medical, and industrial applications. “I
am delighted to welcome the CTP team to Ducommun as we continue to
add high value engineered products to the portfolio,” said Stephen
Oswald, Ducommun president and chief executive officer. “As I‘ve
stated in the past, our strategy is to diversify towards more
customized, higher value, engineered products with greater
aftermarket potential. CTP adds to the Company’s proprietary
capabilities in aerostructures and expands our footprint into an
entirely new market – aircraft interiors. I am also pleased
that Robert Duncan, CTP’s current president and its primary
shareholder, will be staying on to help with the transition of the
business to Ducommun.” “I am very excited to join the Ducommun
family. CTP’s focus on specialty extrusions – particularly for use
in aviation interiors – will complement Ducommun’s existing
portfolio of products across its end-use markets. I also believe
that by joining Ducommun, CTP will be able to further accelerate
the growth that we have experienced over the past few years,” added
Robert Duncan, CTP’s president. Ducommun expects the acquisition to
be accretive to earnings within the first year following closing
and financed the purchase through its existing revolving credit
facility.
Advisors Winston & Strawn, LLP
served as legal advisor to Ducommun. Houlihan Lokey served as
financial advisor and Morgan, Lewis & Bockius, LLP served as
legal advisor to CTP.
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 www.ducommun.com.
About Certified
Thermoplastics Co., LLCCTP was founded in 1978
and supplies extrusions and extruded assemblies to a wide variety
of industrial customers including for medical, lighting, energy,
and communications applications. However, a large part of the
company’s business is within the aviation and aerospace sector,
with clients such as Boeing (both civilian and military), Airbus,
Embraer, Bombardier and others. CTP specializes in the extrusion of
engineered thermoplastic resins, compounds and alloys, including
high temperature resins, flame retardant, low smoke and fume
resins, glass and carbon reinforced compounds that add strength and
static dissipation properties, and chemical resistance for use in
harsh environments. Additional information can be found at
www.ctplastics.com.
This press release includes "forward looking
statements" relating to the acquisition of Certified
Thermoplastics Co., LLC discussed above, including statements
relating to Ducommun’s expectations relating to the acquisition
being accretive to its earnings. These statements are based on
assumptions currently believed to be valid, but they involve risks
and uncertainties that could cause our actual results to differ
materially from those expressed in the forward looking statements.
Important uncertainties that could cause our actual results to
differ from those expressed in the forward looking statements are
identified in our reports filed with the SEC, including our
Quarterly Reports on Form 10-Q, our Annual Reports on Form 10-K,
and our Current Reports on Form 8-K. 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.
ContactsDouglas L. Groves, Vice President,
Chief Financial Officer and Treasurer, 310.513.7200Chris Witty,
Investor Relations, 646.438.9385, cwitty@darrowir.com
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