DUCOMMUN INC /DE/ (DCO): restructuring charge — Ducommun to close Monrovia performance center; estimates $9-12M pre-tax charges

DUCOMMUN INC /DE/

Board approved closure of Monrovia, CA performance center; production to cease by mid-2023.
Total pre-tax charges estimated at $9-12M: $8-10M cash for separation & consolidation, $1-2M non-cash for asset impairment.
Existing production to be absorbed by other performance centers; real estate divestiture being evaluated.
Closure is the final footprint consolidation under the Company's 2022 Restructuring Plan.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

DUCOMMUN INC /DE/ announced a restructuring with charges of between $9 and $12 million affecting performance center in Monrovia, California.

Type: restructuring
Charge: between $9 and $12 million
Affected area: performance center in Monrovia, California

Exact text from the filing

On November 17, 2022, the Board of Directors (the “Board”) of Ducommun Incorporated (the “Company”) approved the closure of the Company’s performance center in Monrovia, California in order to further optimize and consolidate the Company’s footprint. The Company expects this to be the final footprint consolidation under the Company’s 2022 Restructuring Plan. The Company intends to cease production and close the facility by the middle of 2023, and is evaluating options to divest the underlying real estate. Existing production will be absorbed by the Company’s other existing performance centers. As a result of the closure, the Company currently estimates total pre-tax charges will be between $9 and $12 million.

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6 restructurings & charges filed in the last 30 days. Browse all restructurings & charges →

DUCOMMUN INC /DE/ filing history →

Source: SEC EDGAR

accession 0001193125-22-288988

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