WAYNE, Pa.--(BUSINESS WIRE)--Mar. 13, 2009--
Triumph Group, Inc. (NYSE:TGI) today announced the acquisition of
Merritt Tool Company, Inc., a manufacturer of aircraft structural
components specializing in complex precision machining primarily for
commercial and military aerospace programs. The acquired business, which
will operate as Triumph Structures-East Texas, Inc. and be part of
Triumph Aerospace Systems Group, is expected to add approximately $30
million of revenue for fiscal year 2010 and will be immediately
accretive to earnings.
Merritt Tool is located in Kilgore, Texas and employs approximately 120
people. The company specializes in complex, medium to large,
conventional computer numerical control (CNC) milling, turning, grinding
and assembly and serves customers in the aerospace and energy industries.
Richard C. Ill, Triumph’s President and Chief Executive Officer, said,
“We are pleased to have acquired Merritt Tool and view this as an
opportunity to leverage our current portfolio of aerospace structural
manufacturing capabilities and expand the products and services we offer
to our major airframe customers. We are also pleased that the company
will continue to be led by A.P. Merritt, Jr. and his management team.”
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
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 statements of
expected revenue and accretion. 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, 2008.
Source: Triumph Group, Inc.
Triumph Group, Inc.
Sheila G. Spagnolo