Ducommun Incorporated (NYSE: DCO) has completed the sale of its Miltec Corporation subsidiary to General Atomics, the company said.
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.
As previously announced, the total purchase price was USD14.6 million in cash, subject to post-closing adjustments. The company intends to use net proceeds from the sale to reduce debt.
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.