BERWYN, Pa.--(BUSINESS WIRE)--Oct. 4, 2013--
Triumph Group, Inc.(NYSE:TGI) today announced the completion of
the previously announced acquisition of General Donlee Canada Inc.
(GDI.TO), a leading manufacturer of flight critical complex machined
components. Triumph acquired all of the issued and outstanding shares of
General Donlee for CDN$5.50 per share in cash. The acquired business
will operate as Triumph Gear Systems-Toronto and will be included in the
Aerospace Systems Group. The business is expected to add approximately
$60.0 million in annual revenue and to be immediately accretive to
Based in Toronto, Canada, General Donlee is a leading manufacturer of
precision machined products for the aerospace, nuclear and oil and gas
industries. With approximately 200 employees, the company’s primary
product lines include engine shafts, thrust links, rotorcraft masts and
landing gear applications. Key customers include GE Aviation and Bell
Jeffry D. Frisby, Triumph’s President and Chief Executive Officer, said,
“We are pleased to have acquired Triumph Gear Systems-Toronto. We are
excited about the growth opportunities at the company, which adds a
strong position in engine and main rotor shafts to our product
capabilities. Through this acquisition, we obtain proprietary
manufacturing methods, technological know-how and an outstanding group
of employees. We are also pleased that the management team will remain
with Triumph to continue to deliver exceptional value to their
To obtain a copy of the report filed with the Canadian securities
regulatory authorities relating to the acquisition, please contact
Sheila G. Spagnolo, Vice President, at (610) 251-1000, 899 Cassatt Road,
Suite 210, Berwyn, PA 19312 U.S.A.
Triumph Group, Inc., headquartered in Berwyn, Pennsylvania, designs,
engineers, manufactures, repairs and overhauls a broad portfolio of
aerostructures, aircraft 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.
Statements in this release which are not historical facts are
forward-looking statements under the provisions of the Private
Securities Litigation Reform Act of 1995. All forward-looking statements
involve risks and uncertainties which could affect the company’s actual
results and could cause its actual results to differ materially from
those expressed in any forward-looking statements made by, or on behalf
of, the company, including statements of expected revenues or accretion
to earnings. Further information regarding the important factors that
could cause actual results to differ from projected results can be found
in Triumph Group’s reports filed with the SEC, including our Annual
Report on Form 10-K for the fiscal year ended March 31, 2013.
Source: Triumph Group, Inc.
Triumph Group, Inc.
Sheila G. Spagnolo