© ljupco smokovski dreamstime.com Electronics Production | April 07, 2016
Ducommun completes sale of Miltec Corporation
The US manufacturer has completed the previously announced sale of its Miltec Corporation subsidiary to General Atomics.
It was back in February of 2016 that Ducommun announced that it had entered into a definitive agreement with General Atomics to sell the Company’s Miltec Corporation subsidiary for USD 14.6 million. Miltec provides engineering, technical and program management services principally to the US Department of Defense and US intelligence agencies for advanced weapons systems and military defense systems. “With the sale of Miltec, we are taking another proactive step in focusing our energy, attention and resources on the strategic areas that are core to Ducommun’s growth and financial performance going forward,” said Anthony J. Reardon, chairman and chief executive officer in the original release announcing the sale.