Ducommun Incorporated’s Lightning Diversion Systems (LDS) Brand Signs Exclusive Licensing Agreement with Wichita State Univ...
March 03 2020 - 8:00AM
Ducommun Incorporated (NYSE:DCO) today announced that its Lightning
Diversion Systems (LDS) brand, a global leader in the design and
manufacture of segmented lightning diverter strips and protection
devices for aerospace and defense markets, has signed an exclusive
licensing agreement with Wichita State University (WSU) for
advanced lightning strike protection technology to be used on wind
turbines.
Ducommun officials said LDS will further develop
and commercialize the technology, originally developed at WSU’s
National Institute for Aviation Research (NIAR), and offer it to
targeted wind turbine original equipment manufacturers (OEMs) and
operators in the U.S. and select international markets who want
more robust, cost-efficient lightning strike protection.
“I am very pleased to announce the exclusive
agreement between Lightning Diversion Systems and Wichita State
University to license and further develop this advanced lightning
protection technology for a segment of the wind turbine market,”
said Stephen G. Oswald, chairman, president and chief executive
officer of Ducommun Incorporated. “It offers us an opportunity
to partner with a highly respected university and research
institute on the latest technologies and advancements, while
applying our existing expertise in lightning protection
capabilities and solutions for aerospace and defense to support
this targeted use in the wind energy sector.”
“At Wichita State University, we are focused on
launching convergence sciences, and this partnership is a great
demonstration of that,” said Jay Golden, president of Wichita State
University. “The type of technology we’re developing with NIAR and
Lightning Diversion Systems shows WSU’s dedication to leverage our
expertise and research strengths to diversify the
economy.”
Dave Wilmot, vice president and general manager
of the Engineered Products Group for Ducommun Incorporated, said
LDS currently supports approximately 3,000 wind turbine blades
worldwide with its segmented diverter strips, which has provided
direct insight on the unmet need for more robust protection.
“There are currently more than 341,000 wind
turbines operating worldwide, with more than 56,000 of those based
in North America. All of them are susceptible to lightning strikes,
which can cause significant and costly damage to wind turbine
components such as blades, controls and electrical systems,” Wilmot
said. “While wind turbine blades have existing lightning protection
systems, these systems are unable to effectively transfer lightning
current to the ground. By partnering with Wichita State University
on this innovative technology, our goal is to develop advanced
protection for wind turbines, which means they stay in the field
longer, they stay on the turbines longer, and there is less
material going into landfills or recycling.”
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. In 2017,
Ducommun Incorporated acquired Lightning Diversion Systems (LDS), a
global leader in the design, development and production of
segmented lightning diverter strips, devices and products for the
military, aerospace and wind energy sectors. For more information,
visit Ducommun.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,
including relating to the brands, facilities and programs discussed
above. We generally use the words “believe,” “estimate,”
“continue,” “goal,” “can,” “may,” 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.
CONTACTS:Media: Rose Rogers,
Ducommun Vice President & Chief Human Resources Officer,
657.335.3665Investors: Chris Witty, Darrow Associates,
646.438.9385, cwitty@darrowir.com
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