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Ducommun Completes Divestiture of Miltec Corporation
March 28, 2016 | Business WireEstimated reading time: Less than a minute
Ducommun Incorporated today announced the completion of the previously announced sale of its Miltec Corporation subsidiary to General Atomics. Miltec provides engineering, technical and program management services principally to the U.S. Department of Defense and U.S. intelligence agencies for advanced weapons systems and military defense systems. As previously announced, the total purchase price was $14.6 million in cash, subject to post-closing adjustments. The Company intends to use net proceeds from the sale to reduce debt.
About Ducommun Incorporated
Ducommun Incorporated delivers 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.
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