Ducommun Incorporated Acquires Nobles Worldwide
October 09 2019 - 7:00AM
Ducommun Incorporated (NYSE:DCO) (“Ducommun” or the “Company”)
today announced that it has completed the acquisition of Nobles
Worldwide Inc. (“Nobles”) based in St. Croix Falls, Wisconsin.
Founded in 1948, Nobles Worldwide is the global
leader in the design and manufacture of high performance ammunition
handling systems for military aircraft, helicopters, ground
vehicles and shipboard systems. Nobles is currently the primary
ammunition feed chute supplier to most F-Series aircraft and naval
close-in weapon systems in the U.S. and supports more than 50
different such systems in 50 other countries worldwide. In addition
to its full-sized, customized solutions, Nobles offers a range of
systems for small and medium caliber weapon stations and medium
caliber turrets.
“I am delighted to welcome Nobles Worldwide to
Ducommun as we continue to add high value engineered products to
our portfolio,” said Stephen G. Oswald, chairman, president and
chief executive officer of Ducommun Incorporated. “As communicated
previously, Nobles Worldwide continues to advance the Company’s
strategy of offering more customized, value-driven engineered
products with aftermarket support. In addition, the acquisition
expands our current footprint into another segment of the defense
market, ammunition delivery and handling systems.”
“We are excited to join the Ducommun family.
Nobles’ focus on the design, manufacturing, delivery and
integration of ammunition handling systems for military land, air
and sea platforms will complement Ducommun’s existing portfolio of
engineered products for the defense industry. With Ducommun, Nobles
expects to accelerate its growth and expand its focus on innovative
offerings to meet the needs of an evolving military,” said Will
Wennberg, Nobles president. Ducommun financed the purchase through
its existing revolving credit facility.
Advisers Winston & Strawn,
LLP served as legal adviser to Ducommun and Houlihan Lokey Capital,
Inc. served as financial adviser to the seller.
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 Nobles WorldwideFounded
in 1948, Nobles Worldwide is the largest supplier of ammunition
feed systems to all branches of the U.S. military and its allies.
Nobles is recognized globally for its superior durability products,
cutting-edge designs and rigorous quality assurance. Nobles
Worldwide offers lighter, stronger and more flexible materials used
in ammunition chutes, magazines, gun mounts and weapon stations.
Nobles is based in St. Croix Falls, Wisconsin. For more
information, please visit noblesworldwide.com
Forward-Looking StatementsThis
press release includes "forward looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended,
relating to the acquisition of Nobles Worldwide, Inc. discussed
above, including statements relating to Ducommun’s expectations
relating to the acquisition being complementary to its existing
portfolio and Nobles accelerating its growth. We generally use the
words “believe,” “expect,” and similar expressions in this press
release to identify forward-looking statements. 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.
ContactsChris Wampler, Vice President, Interim
CFO & Chief Accounting Officer310.513.7290,
CWampler@ducommun.com
Chris Witty, Investor Relations646.438.9385,
cwitty@darrowir.com
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