BERWYN, Pa.--(BUSINESS WIRE)--Jan. 11, 2018--
Triumph Group, Inc.(NYSE:TGI) announced today that they will
partner with AeroSpace Technologies of Korea Inc. (ASTK), a leading
provider of aircraft fuselage, precision components and skeletal
materials, to build fuselages for Embraer’s second-generation E-Jet
aircraft program including the E175-E2, E190-E2 and the E195-E2. The
strategic partnership with ASTK will allow Triumph’s Aerospace
Structures business unit to dedicate resources to other production
programs and capture new development work while fully meeting the
quality and delivery needs of the Embraer customer.
Under the terms of the agreement, ASTK will build and transport fuselage
shipsets to Embraer and establish a facility in Brazil to manage stock
and repairs locally.
“ASTK has been a proven supplier for us on the E2 program providing a
majority of the E2 parts and subassemblies since Triumph won the
contract in 2013,” said Peter Wick, Executive Vice President for Triumph
Aerospace Structures. “With the development and design phase of the
program now complete, the new agreement with ASTK will enable us to
build at the rate necessary to support the E2’s entry into service and
“We are equipped and ready to provide full support for the fuselage
program,” said Mr. T. H. Yoon, President, ASTK. “Our partnership with
Triumph Group on the E2 program continues to be very positive and
mutually beneficial. We are happy to see our relationship expand and we
look forward to the opportunity to provide additional value-added
services for both Triumph and Embraer.”
Triumph Group initially received the contract for work from Embraer in
June 2013 and has provided the fuselage and other component parts to the
Brazilian-based OEM throughout the development phase of the program. The
E2 is scheduled to enter into service in 2018. ASTK was selected by
Triumph as the prime subcontractor based on their familiarity with and
current successes on the E2 platform as well as their excellent
performance on other programs.
“Forming strategic outsourcing relationships with world-class partners
like ASTK, is essential to our future success,” continued Wick. “We are
able to leverage their unique strengths and capabilities, while at the
same time freeing up our workforce and floor space to focus on programs
where we can provide greater value to our overall customer base.”
Triumph Group, Inc., headquartered in Berwyn, Pennsylvania, designs,
engineers, manufactures, repairs and overhauls a broad portfolio of
aircraft structures, components, accessories, and systems. The Company
serves a broad spectrum of the global 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.
Michele Long, 610-251-1000
G. Spagnolo, 610-251-1000
Vice President – Tax & Investor Relations