Ducommun Incorporated (NYSE: DCO) has received a follow-on award from Raytheon Company (NYSE: RTN) to continue providing complex wiring harnesses for the TOW (tube-launched, optically-tracked, wireless-guided) weapon system. The contract, worth $3.7 million, extends the Company’s support of the program through 2013, with production taking place at the Ducommun LaBarge Technologies facility in Berryville, Ark. Recently, Raytheon named this operation its first-ever TOW Supplier of the Year.
"We appreciate this important follow-on contract and are proud of the fact that we have been awarded this supplier distinction, acknowledging our employees’ outstanding performance and commitment to the TOW program," said Anthony J. Reardon, chairmen, president and chief executive officer of Ducommun. "It's our job to find the best manufacturing solutions so that, together, we can deliver a reliable, quality product.”
TOW is a long-range, anti-armor assault weapon system that includes a family of attack missiles and is designed to destroy a broad range of targets – from main battle tanks to reinforced urban fortifications. TOW is currently in service with more than 40 international armed forces and integrated into over 15,000 ground, vehicle and helicopter platforms worldwide. The TOW system has been employed by U.S. forces in every conflict since Vietnam and continues to be used in theater today.
About Ducommun IncorporatedFounded 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 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, any difficulties, delays or failure in, or unanticipated costs of, realizing the expected synergies of the LaBarge acquisition, 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.
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