BERWYN, Pa.--(BUSINESS WIRE)--Aug. 1, 2018--
Triumph Group, Inc. (NYSE:TGI) announced today the sale of Triumph
Structures – East Texas, Inc. to Merritt Preferred Components. The
transaction was effective July 31, 2018. The East Texas division
generated revenues of approximately $20 million in Triumph Group’s
fiscal year ended March 31, 2018.
Structures East Texas is based in Kilgore, Texas, employs approximately
60 people, and manufactures aircraft structural components. The company
specializes in complex, medium to large, conventional computer numerical
control (CNC) milling, turning, grinding and assembly and serves
customers in the aerospace and energy industries.
“With the sale of East Texas to Merritt Preferred Components, Triumph
continues to divest non-core businesses to enable debt reduction and
strategically position the company for growth,” said Triumph Group
president and CEO, Dan Crowley. “I am confident that the new owners will
be responsible stewards of the business and accelerate its performance
as part of a more focused enterprise.”
Triumph Group, Inc., headquartered in Berwyn, Pennsylvania, 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.
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Source: Triumph Group, Inc.
Triumph Group, Inc.
Senior Director –
Vice President – Tax & Investor Relations