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Ducommun Incorporated today announced the sale of its Pittsburgh, PA business unit to a private investment group for $38.5 million in cash, subject to customary post-closing adjustments. The Pittsburgh business, acquired in 2011 as part of the company’s purchase of LaBarge, Inc., supplies printed circuit cards and related assemblies to industrial and energy markets. The business had sales in 2015 of approximately $42 million.
“The sale of our Pittsburgh operation is a result of our on-going strategic portfolio review. Exiting this non-core business strengthens Ducommun and focuses our organization on being a leading provider of unique, value-added solutions and technologies to the aerospace, defense and related markets,” said Anthony J. Reardon, chairman and chief executive officer. “While the Pittsburgh business is a well-run operation, by monetizing this asset we can reduce debt and redeploy capital towards more strategic applications, providing further value to our shareholders.”
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).