News Releases

Triumph Group Announces the Sale of Metallics Machining Business to NWI Holdings

January 24, 2019 at 4:15 PM EST

BERWYN, Pa.--(BUSINESS WIRE)--Jan. 24, 2019-- Triumph Group, Inc. (NYSE:TGI) announced today a definitive agreement to sell its metallics machining operations to NWI Holdings, an affiliate of TECT Aerospace and TECT Power. TECT Aerospace manufactures complex aerostructure components, parts and assemblies from the full spectrum of traditional and aerospace alloys, and is headquartered in Wichita, Kansas. TECT Power, headquartered in Fort Mitchell, KY, is a leading provider of complex rotating and structural airfoil components for turbine engines used in commercial aerospace, business jet, defense and industrial markets.

“The sale of Triumph’s machining businesses to NWI Holdings is another step forward in our strategic initiative to exit non-core build-to-print, contract manufacturing businesses to generate shareholder value. Triumph continues to transform its portfolio, reduce debt and position the business for reinvestment in new areas of opportunity,” said Dan Crowley, President and CEO of Triumph Group. “Our machining businesses are an excellent fit with NWI Holdings and their TECT affiliates, and we are confident they will effectively drive synergies between the two companies.”

The metallics machining operations included in the agreement are Triumph Structures – Kansas City, Inc., Triumph Structures – Wichita, Inc., Triumph Gear Systems – Toronto, ULC and Triumph Northwest (The Triumph Group Operations, Inc.) in Oregon. The businesses provide vertically integrated assemblies, high velocity machining of monolithic components and machining of hard metal components used to manufacturer a wide variety of aerostructures. Capabilities include monolithic large parts, specialty links and tubes, as well as refractory metal forging and machining. Combined, the businesses generated revenues of approximately $121 million during Triumph Group’s fiscal year ended March 31, 2018.

The transaction is subject to customary conditions and is expected to close in the next few months.

Lazard acted as exclusive financial advisor to Triumph on the transaction.

About Triumph Group:

Triumph Group, Inc., headquartered in Berwyn, Pennsylvania, designs, engineers, manufactures, repairs and overhauls a broad portfolio of aerospace and defense systems, components and structures. The company serves the global aviation industry, including original equipment manufacturers and the full spectrum of military and commercial aircraft operators.

More information about Triumph can be found on the company’s website at http://www.triumphgroup.com.

About NWI Holdings and TECT:

NWI is affiliated by ownership with both TECT Aerospace and TECT Power. TECT Aerospace is a leading manufacturer of complex aerostructure components, parts and assemblies headquartered in Wichita, Kansas with operations in Park City, KS, Wellington KS, Kent WA and Everett Washington. The customers of the Kansas City and Wichita operation being purchased by NWI are very familiar with TECT Aerospace and its reputation for world class quality and delivery performance. TECT Power is a leading provider of complex rotating and structural airfoil components for turbine engines used in commercial aerospace, business jet, defense and industrial markets headquartered in Fort Mitchell, KY with operations in Cleveland OH, Thomasville GA, Utica, NY, Santa Fe Springs, CA and Wichita KS. The customers of the Toronto operation being purchased by NWI are very familiar with TECT Power and its industry leading reputation. More information about TECT can be found on the company web sites at http://www.tectaero.com and http://www.tectpower.com.

Source: Triumph Group, Inc.

Michele Long
Senior Director – Communications
Phone (610) 251-1000
mmlong@triumphgroup.com

Michael Pici
VP – Financial Planning & Investor Relations
Phone (610) 251-1000
mpici@triumphgroup.com