BERWYN, Pa.--(BUSINESS WIRE)--Jul. 31, 2018--
Triumph Group, Inc.(NYSE: TGI) announced today that it has
signed a letter of intent for future collaboration with Quickstep
Holdings Limited (ASX:QHL), Australia’s leading independent manufacturer
of advanced carbon fiber composite components.
Triumph’s Aerospace Structures business unit and Quickstep will work
closely together to actively explore and cooperate in pursuing new
business opportunities, bringing together their combined capabilities to
offer enhanced and highly sought-after composites solutions to customers
in the U.S. and Australian aerospace and defense markets.
“Working together with Quickstep, we expect to gain access to new
opportunities and create market leading discriminators that will set us
apart from our competitors,” said Ian Reason, Triumph Group’s Vice
President for Business Development – Military. “Composites is a growth
market in which Triumph is already a well-respected supplier, heavily
relied upon by both commercial and military OEMs. This collaboration
will generate significant value for both companies and our customers in
both the U.S. and Australia.”
“This is an exciting opportunity for Quickstep and demonstrates that our
recent investments in the U.S. market are already paying off,” said Mark
Burgess, CEO and Managing Director of Quickstep. “Triumph is a quality
company, with a strong track record in the composite aerostructures
market, and we believe we will benefit greatly from this collaboration
Triumph and Quickstep have already identified targeted future
opportunities to collaborate on and this is expected to accelerate with
the signing of this agreement.
Triumph Group, Inc., headquartered in Berwyn, Pa., designs, engineers,
manufactures, repairs, and overhauls a broad portfolio of aircraft
structures, components, accessories, subassemblies, and systems. The
company serves a broad, worldwide spectrum of the aviation industry,
including original equipment manufacturers of commercial, regional,
business and military aircraft, and aircraft components, as well as
commercial and regional airlines and air cargo carriers.
More information about Triumph can be found on the company’s website at http://www.triumphgroup.com.
Quickstep Holdings Limited (ASX: QHL) is the largest independent
aerospace-grade advanced composite manufacturer in Australia, operating
from state-of-the-art aerospace manufacturing facilities at Bankstown
Airport in Sydney, NSW and a manufacturing and R&D/ process development
center in Geelong, Victoria. The group employs more than 200 people in
Australia and internationally.
More information about Quickstep can be found on the company’s website
View source version on businesswire.com: https://www.businesswire.com/news/home/20180731005949/en/
Source: Triumph Group, Inc.
Triumph Group, Inc.
Senior Director –
Vice President – Tax and Investor Relations