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Ducommun selling its Pittsburgh operation

Ducommun Incorporated is selling its Pittsburgh, Pennsylvania, business unit to a private investment group for USD 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 USD 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,” Reardon adds.
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November 15 2018 5:25 pm V11.9.0-1