Ducommun Receives Multiyear Contracts from Gulfstream for New G500 and G600 Business Jets
By Business Wire News
By Business Wire News
Ducommun Incorporated (NYSE:DCO) (“Ducommun” or the “Company”) today reported it has received multimillion dollar contracts from Gulfstream Aerospace Corp., a wholly owned subsidiary of General Dynamics (NYSE: GD), to support the G500 and G600 – a new family of large-cabin, long-range business jets. Ducommun will be the sole source supplier of the titanium auxiliary power unit inlet duct and the cooler duct for these aircraft. Ducommun engineers designed and will oversee the testing of the titanium ducts. In addition, the Company will manufacture a variety of other titanium components for both aircraft.
“This is a great win for Ducommun, which will significantly expand our presence with Gulfstream going forward,” said Anthony J. Reardon, chairman and chief executive officer. “We remain committed to growing within all areas of the commercial aerospace market, including larger business jets, and these titanium awards position us for increased penetration in the years to come. We look forward to working with Gulfstream as they launch the G500 and G600.”
Unveiled in October 2014, the Gulfstream G500 and G600 are meant to optimize speed, wide-cabin comfort and efficiency and offer best-in-class performance, with advanced safety features. The first flight of the G500 is scheduled for later this year, and Gulfstream expects to receive type certification during 2017 – with deliveries set to begin in 2018. The G600 flight-test program is anticipated to begin approximately 12 to 18 months after the G500 and enter service in 2019.
Ducommun has produced electronics and structures for a variety of Gulfstream aircraft, including the G450/G550/G650. Ducommun will produce the titanium components under these contracts at its operations centers in Coxsackie, N.Y., and Parsons, Kan., which was named a Gulfstream Supplier of the Year in 2011.
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, 310-513-7211
Vice President and Chief Financial Officer
Chris Witty, 646-438-9385