BERWYN, Pa.--(BUSINESS WIRE)--Mar. 29, 2016--
Triumph Group, Inc. (NYSE: TGI) today announced that its
subsidiary, Triumph Actuation Systems-UK & IOM, has entered into a long
term agreement with Airbus S.A.S. to continue manufacturing its landing
gear actuation systems including actuators, valves and uplocks for the
A320ceo and A320neo programs. Production of the actuation systems will
be performed at Triumph’s facility in Deeside, Flintshire, with the
aftermarket support being provided from the Staverton, Gloucestershire
facility. The contract is worth approximately $500 million over the life
of the contract.
Daniel J. Crowley, Triumph’s President and Chief Executive Officer,
said, “This long term agreement represents an exciting new chapter in
our strategic partnership with Airbus and reflects the value customers
place on our experience, expertise and ability to provide higher-value
added solutions. Our agreement with Airbus demonstrates our shared
commitment to performance and service excellence. We are intently
focused on delivering on our customer commitments, driving organic
growth and generating predictable profitability.”
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 Group 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, including statements of
expected program revenue. 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.
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, 2015.
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Source: Triumph Group, Inc.
Triumph Group, Inc.
Sheila G. Spagnolo
Vice President – Tax &