September 28, 2017
Arconic Announces Mandatory Conversion of Its 5.375% Class B Mandatory Convertible Preferred Stock
MIAMI and NILES, OH, October 9, 2017 – Arconic has signed a multi-year titanium sheet and plate contract with Ducommun, an aerospace and defense manufacturer. Under the agreement, Arconic’s Titanium and Engineered Products business unit will supply titanium to Ducommun, which uses its proprietary hot forming and super-plastic forming processes to produce aircraft structures for military and commercial aircraft platforms. The deal, announced at the 33rd Annual TITANIUM USA conference in Miami, significantly increases the amount of titanium mill products Arconic supplies to Ducommun.
“Demand for strong, aerospace-grade titanium is growing as aircraft manufacturers seek to deliver the next generation of more fuel efficient and cost-effective aerospace structures,” said Jeremy Halford, President, Arconic Titanium and Engineered Products. “We’re continuing to win share and capture that growth through our commitment to quality and on-time delivery.”
“Ducommun needs suppliers who will partner with us to ensure the success of our customers, the global leaders in the defense and aerospace industries. Ducommun chose to expand its partnership with Arconic Titanium and Engineered Products based on Arconic’s proven performance as a supplier of exceptional quality, on-time delivery and lead-time support,” said Michelle Stein, Vice President Supply Chain Management, Ducommun.
Arconic Titanium and Engineered Products has been a supplier to Ducommun for 25 years. Arconic will produce the titanium sheet and plate at its facility in Niles, Ohio and distribute the products from its facility in Norwalk, California.
Editor’s Note: Caption for Accompanying Photo: Under a new multimillion dollar contract, Arconic Titanium and Engineered Products will supply titanium sheet and plate to aerospace and defense manufacturer Ducommun, which will use the metal to support commercial aircraft and military programs, such as the BLACK HAWK helicopter shown here. [Photo credit: U.S. Department of Defense photo by Sgt. Taresha Neal Joiner, U.S. Army (released)]
Arconic (NYSE: ARNC) creates breakthrough products that shape industries. Working in close partnership with our customers, we solve complex engineering challenges to transform the way we fly, drive, build and power. Through the ingenuity of our people and cutting-edge advanced manufacturing techniques, we deliver these products at a quality and efficiency that ensure customer success and shareholder value. For more information: www.arconic.com. Follow @arconic: Twitter, Instagram, Facebook, LinkedIn and YouTube.
Ducommun Incorporated (NYSE: DCO) delivers value-added 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. For more information, visit www.ducommun.com.
This release contains statements that relate to future events and expectations and as such constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include those containing such words as “anticipates,” “believes,” “could,” “estimates,” “expects,” “forecasts,” “guidance,” “goal,” “intends,” “may,” “outlook,” “plans,” “projects,” “seeks,” “sees,” “should,” “targets,” “will,” “would,” or other words of similar meaning. All statements that reflect Arconic’s expectations, assumptions or projections about the future, other than statements of historical fact, are forward-looking statements, including, without limitation, statements and projections regarding the aerospace markets, titanium usage, and potential share gains. Forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and changes in circumstances that are difficult to predict. It is possible that actual results may differ materially from those indicated by these forward-looking statements due to a variety of risks and uncertainties, including, but not limited to, deterioration in global economic and financial market conditions generally, unfavorable changes in the aerospace markets, and the risk factors summarized in Arconic’s Form 10-K for the year ended December 31, 2016, Arconic’s Form 10-Q for the quarter ended June 30, 2017 and other reports filed with the U.S. Securities and Exchange Commission. Arconic disclaims any obligation to update publicly any forward-looking statements, whether in response to new information, future events or otherwise, except as required by applicable law. Market projections are subject to the risks discussed above and other risks in the market.