Ducommun Acquires Aerodynamic Systems Provider BLR Aerospace For Undisclosed Sum

Shivani Kumaresan
·1 min read

  • Ducommun Inc (NYSE: DCO) said it entered into a definitive securities purchase agreement to acquire BLR Aerospace LLC. The financial details of the transaction were not disclosed.

  • BLR provides aerodynamic systems that enhance productivity, performance, and safety of rotary- and fixed-wing aircraft on commercial and military platforms.

  • The company expects the transaction to be completed during the second-quarter of 2023.

  • Ducommun intends to finance the acquisition through its existing revolving credit facility.

  • "This is a first step in our commitment made during Ducommun's Investor Day last December to increase the amount of engineered products and aftermarket in our revenues," said Stephen G. Oswald, chairman, president and CEO of Ducommun.

  • The company held $46.2 million in cash and equivalents as of Dec. 31, 2022.

  • Price Action: DCO shares closed higher by 2.03% at $51.17 on Monday.

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This article Ducommun Acquires Aerodynamic Systems Provider BLR Aerospace For Undisclosed Sum originally appeared on Benzinga.com

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