Triumph Group Selected to Provide Boeing 787 Floor Panel System
WAYNE, Pa.--(BUSINESS WIRE)--Oct. 11, 2006--Triumph Group, Inc. (NYSE:TGI) announced today that its subsidiary, Triumph Composite Systems, Inc., located in Spokane, Washington, has been awarded a contract by The Boeing Company to provide the composite floor panel system for the Boeing 787 Dreamliner program. This initial award has an estimated value of $49 million.
Richard C. Ill, Triumph's President and Chief Executive Officer, said, "This award by Boeing once again demonstrates Triumph's commitment to delivering product excellence. We are excited by the significant amount of content that we now have on the 787 aircraft and are committed to providing high value solutions to this program."
In addition to the 787 Floor Panel System, Triumph has recently been selected by Saab Aerostructures to provide the 787 large cargo door actuation system and by Vought Aircraft Industries to supply integrated kits which include composite ducting, machined metal parts and fittings, hydraulic tubing, insulation and other components. Triumph has also been awarded contracts by Spirit Aerosystems for nacelle side skins and mounts, window assemblies and ducting and by Messier Bugati for brake assemblies.
Mr. Ill continued, "With the addition of this contract to our growing participation in the 787 program, the Boeing Dreamliner will become the highest value commercial aircraft program in Triumph's history."
Triumph Group, Inc., headquartered in Wayne, Pennsylvania, designs, engineers, manufactures, repairs and overhauls aircraft components and accessories. 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 Internet 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 estimates of contract value and expectations regarding any aircraft program. 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's reports filed with the SEC, including our Annual Report on Form 10-K for the year ended March 31, 2006.
CONTACT: Triumph Group, Inc.
John Bartholdson, 610-251-1000
Senior Vice President,
Chief Financial Officer
SOURCE: Triumph Group, Inc.