BERWYN, Pa.--(BUSINESS WIRE)--Sep. 10, 2018--
Triumph Group, Inc.(NYSE:TGI) announced today that it was
awarded two contract extensions from General Dynamics Ordnance and
Tactical Systems for the production of specially machined guided missile
parts. The contracts, which are expected to generate sales totaling more
than $11 million, are for machining and forging of parts and components
on the Lockheed Martin HELLFIRE Romeo guided missile systems. The
production will take place at the Triumph Aerospace Structures’
specialty machining facility in Albany, Oregon.
Triumph is one of an extremely limited group of suppliers capable of
performing the machining and forging work needed to produce the main and
precursor charge liners used on the HELLFIRE Romeo. The company
originally secured the contract with General Dynamic Ordnance and
Tactical Systems in 1994 and served as the sole supplier for the parts
until 2017 when a second source provider was mandated. Since then
Triumph has maintained more than 80 percent of the contract for the main
liner and 100 percent on the precursor liner.
“We are pleased to continue to collaborate with General Dynamics
Ordnance and Tactical Systems in support of the HELLFIRE Romeo missile
program,” said Peter Wick, EVP of Triumph Aerospace Structures, “and we
hope to support them on other missile programs that will benefit from
the machining and forging expertise we offer.”
Triumph is also working with General Dynamics Ordnance and Tactical
Systems to produce missile liners for other military missile system
The military sector is an important growth area for Triumph Group and
its three business units. In addition to being a superior supplier for
General Dynamics missile program, Triumph also has significant content
on programs such as the AH-64, KC-46, V-22, and F-35. The company has
also been named as a major supplier for the Boeing T-X offering for the
yet-to-be-decided U.S. Airforce trainer program.
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 about
expected future sales. 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180910005920/en/
Source: Triumph Group, Inc.
Triumph Group, Inc.
Sr. Director – Communications
Vice President – Tax & Investor Relations