BERWYN, Pa.--(BUSINESS WIRE)--Jan. 22, 2018--
Triumph Group, Inc.(NYSE: TGI) announced it signed an agreement
with Boeing (NYSE:BA) to provide major structural assemblies for the 767
program. The work contracted to Triumph Aerospace Structures includes
the production of horizontal stabilizers, doors, aft fuselage and center
wing sections for both the 767 freighter and KC-46A Tanker variants.
“The expansion of our scope of work on the 767 program is another
important stepping stone in our collaboration with Boeing,” said Peter
Wick, executive vice president of Triumph Aerospace Structures. “By
supporting multiple 767 configurations, we can improve efficiencies and
further reduce costs in alignment with Boeing’s Partnering for Success
initiative. Our recent consolidation of Triumph’s Precision Components
and Aerospace Structures business units made it possible to deliver
greater value to Boeing on a program that is both profitable and growing
in production rate.”
Last year, Boeing and Triumph Group signed a memorandum of agreement to
identify new business opportunities in support of Boeing’s Commercial,
Defense, and Global Services businesses. Since then, Triumph has
partnered with Boeing to extend their contract for systems work on
multiple Boeing programs, including the highly successful
Next-Generation 737, and won additional content on the 777X program.
Triumph’s contract for composite interior components on the 737 and 737
MAX, 767, 777 and 787 programs was extended, and they also secured a
variety of structural work on the V-22 program in support of multiyear
three contract between Bell Boeing and the U.S. Navy.
In September 2017, Boeing selected Triumph Group as a major supplier for
their offering for the U.S. Airforce T-X trainer program after teaming
with Triumph on the iconic V-22 Osprey and C-17 Globemaster III programs
in the past.
Additionally, Triumph’s aftermarket business, Product Support, partners
with airline and freight carriers to repair flight control surfaces,
doors, panels and other structural components for the 767 commercial
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.
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 cost
reduction, contract profitability or production rate. 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, 2017.
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Source: Triumph Group, Inc.
Triumph Group, Inc.
Sheila G. Spagnolo,