BERWYN, Pa.--(BUSINESS WIRE)--Mar. 31, 2017-- Triumph Group, Inc. (NYSE:TGI) was selected by Harbin Hafei Airbus Composite Manufacturing Centre Company Ltd. (HHACMC) to supply composite parts for the Airbus A350 XWB aircraft. Triumph Precision Components’ Composites Center of Excellence site in Thailand will produce the composite details for the rudder, which will be assembled at HHACMC in Harbin, China.
The contract, valued at approximately $26M, covers the delivery of 700 shipsets of rudder component kits over the next 5–7 years for the A350 XWB program. Triumph leveraged recent investments in its Thailand facility to increase capability and expand capacity to position itself to win and execute this new agreement.
“We are pleased to enter into a new customer relationship with HHACMC,” said Ronald Vuz, president of Composites Center of Excellence site in Thailand. “Our focus on performance, coupled with our demonstrated ability to obtain the necessary qualifications and transfer work on schedule, provided us with this opportunity to further demonstrate our capability to produce complex composite aerostructures.”
This agreement allows Triumph to help meet the strong demand for services in the burgeoning Asian aerospace market. The Asia-Pacific region is expected to lead the market for new aircraft over the next 20 years.
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.
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Source: Triumph Group, Inc.
Triumph Group, Inc.
Director – Communications
Sheila G. Spagnolo
Vice President – Tax & Investor Relations