Ducommun Incorporated Announces Award of Patriot Conduit Harness Order from Bayern-Chemie GmbH

Rhea-AI Summary

Ducommun (NYSE: DCO) has secured a significant order from Bayern-Chemie GmbH for electronic cable assemblies to be used in Patriot GEM-T rocket motors. The components will be manufactured at Ducommun's engineering and manufacturing facility in Joplin, Missouri. This marks Ducommun's first order with Bayern-Chemie, strengthening its position in the defense sector and supporting its VISION 2027 Strategy.

The company maintains a robust backlog exceeding $1 billion, which is anticipated to generate long-term value for shareholders. This contract reinforces Ducommun's role as a global supplier of engineered products and specialized manufacturing services for the aerospace and defense industry.

Positive

• Secured first major order from new customer Bayern-Chemie
• Maintains strong backlog exceeding $1 billion
• Expands defense business portfolio
• Strengthens international market presence

Negative

• None.

COSTA MESA, Calif., Jan. 06, 2025 (GLOBE NEWSWIRE) -- Ducommun Incorporated (NYSE: DCO) (“Ducommun” or the “Company”), a global supplier of Engineered Products and niche manufacturing services for the aerospace and defense industry, is proud to announce the receipt of a major award for Bayern-Chemie’s Patriot GEM-T rocket motors. This award represents Ducommun’s first order with Bayern-Chemie as a new customer for electronic cable assemblies that will be incorporated into the Patriot GEM-T rocket motor and will be produced at the Company’s world-class engineering and manufacturing performance center in Joplin, Missouri.

“We are thrilled to have earned the trust of Bayern-Chemie, a new customer for Ducommun, and welcome the opportunity to support the needs of our Allies and the warfighter. This is also yet another important milestone for us as we continue to build out our defense business and execute our VISION 2027 Strategy,” said Stephen G. Oswald, chairman, president, and chief executive officer. “Bayern-Chemie is a great partner and we are committed to deliver value to them, their customers and our shareholders.”

With the addition of this new major award, the Company’s backlog remains at over $1B, which is expected to benefit shareholders for years to come.

About Bayern-Chemie GmbH:

Bayern-Chemie is a wholly owned subsidiary of MBDA and is a world leader in guided missile and space propulsion technology. Bayern-Chemie has more than 60 years of experience in the development and production of variable speed ramjet propulsion systems, high-performance rocket propulsion systems with single and multiple pulse technology, variable speed propulsion systems using gelled propellants and gas generators. We employ approximately 250 people, combining the innovation, strength, flexibility and quick reaction times of a medium-sized business with the clout, professionalism and sustainability of a globally networked group of companies, which makes us a trustworthy and competent partner for tomorrow’s propulsion systems today.

About Ducommun Incorporated:

Ducommun 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.

Forward Looking Statements

This press release includes “forward looking statements” within the meaning of the federal securities laws relating to Ducommun Incorporated, including in particular, statements relating to Ducommun’s expectations pertaining to its relationships with key customers, the execution of its VISION 2027 Strategy and similar expressions that concern Ducommun’s intentions or beliefs about future occurrences, expectations, or results. Forward looking statements are subject to risks, uncertainties and other factors that may change over time and may cause actual results to differ materially from those that are expected. It is very difficult to predict the effect of known factors, and Ducommun cannot anticipate all factors that could affect actual results that may be important to an investor. All forward-looking information should be evaluated in the context of these risks, uncertainties and other factors, including those factors disclosed under “Risk Factors” in our reports filed with the Securities and Exchange Commission, including the Company’s Quarterly Reports on Form 10-Q, Annual Reports on Form 10-K, and 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:

Suman Mookerji, Senior Vice President, Chief Financial Officer, 657.335.3665

FAQ

What is the value of DCO's new contract with Bayern-Chemie for Patriot GEM-T components?

The specific contract value was not disclosed in the announcement, though it was described as a major award.

Where will DCO manufacture the Patriot GEM-T cable assemblies for Bayern-Chemie?

The electronic cable assemblies will be produced at Ducommun's engineering and manufacturing performance center in Joplin, Missouri.

What is the current backlog value for Ducommun (DCO) as of January 2025?

Ducommun's backlog remains over $1 billion following this new major award.

How does the Bayern-Chemie contract align with DCO's strategic goals?

The contract aligns with Ducommun's VISION 2027 Strategy and supports their efforts to expand their defense business.

What components will DCO supply for the Patriot GEM-T rocket motors?

Ducommun will supply electronic cable assemblies that will be incorporated into the Patriot GEM-T rocket motor.