Ducommun Announces Cooperative Research Agreement with Airbus
By Business Wire News
By Business Wire News
Ducommun Incorporated (NYSE: DCO) (“Ducommun” or the “Company”) today announced that it has finalized a cooperative research agreement with Airbus under which the companies will jointly develop commercial aerospace applications using Ducommun’s FoamMatrix™ technology, an advanced resin-transfer molding process. The two entities will explore potential uses for flight surfaces under the terms of the agreement, which was finalized at the Paris Air Show in Le Bourget, France.
Ducommun’s FoamMatrix technology is a unique process that utilizes proprietary materials; the process offers weight and cost savings while producing a high-strength end product.
“This agreement with Airbus is an important step in Ducommun’s strategy to deliver new and innovative solutions for our customers within the commercial aerospace industry,” said Anthony J. Reardon, chairman and chief executive officer. “We are excited to work together to develop advanced applications using FoamMatrix, which we believe offers inherent value due to its weight and net shape characteristics – resulting in lightweight aircraft structures without compromising strength or increasing cost.”
Francois Mery, senior vice president of aerostructures procurement for Airbus, added, “The cooperative research agreement with Ducommun will allow us to explore the full potential of FoamMatrix, which we feel is a remarkable innovation that aligns with Airbus’ commitment to reducing environmental impact and bringing cost and performance benefits to the airline industry as well as to the traveling public at large.”
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 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.
Joseph P. Bellino
Vice President and Chief Financial Officer