WAYNE, Pa.--(BUSINESS WIRE)--Mar. 18, 2009--
Triumph Group, Inc. (NYSE:TGI) today announced that it will
establish a new manufacturing facility in Zacatecas, Mexico to
complement its existing manufacturing sites. Triumph’s investment is
initially expected to amount to as much as $20 million over the next 24
months and will involve a significant number of its operating companies
and a wide range of capabilities and technologies. Employment at the
facility, which will be ramped up over time, could reach 400 people over
the next two years. The company is in the process of finalizing the
order and timing of the investment, which will be the first investment
in the newly established Zacatecas Aerospace Park. It is expected that
the facility will be accretive to earnings in late fiscal year 2011.
Richard C. Ill, Triumph’s President and Chief Executive Officer, said,
“We are very pleased to be partnering with the Mexican Federal
government and the State of Zacatecas in their commitment to grow the
aerospace industry in Mexico. This strategic initiative will allow us to
better manage our production costs in a competitive global market and to
effectively increase capacity at our existing domestic plants. The
combination of the savings and capacity expansion will enable Triumph to
continue its profitable growth. The funding of a qualified aerospace
school by our partners will help us accomplish our goals and grow our
The company will address the financial impact on its fiscal year 2010
when it gives its initial guidance in late April, 2009.
Triumph was advised by The Everest Group on this project.
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 regarding
the amount and timing of Triumph’s investment, the nature of the work to
be performed at the new facility, the potential number of employees,
whether and when the new facility will be accretive to earnings, and
expectations of future cost savings, capacity expansion, growth and
profitability. 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