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|Triumph Group Announces Acquisition of Fabritech, Inc.|
|WAYNE, Pa., Mar 01, 2010 (BUSINESS WIRE) -- Triumph Group, Inc. (NYSE:TGI), today announced the acquisition
of Fabritech, Inc., a leading component manufacturer and repair station
for critical military rotary-wing platforms. The acquired business,
which will operate as Triumph Fabrications-St. Louis and be part of
Triumph Aftermarket Services Group, is expected to add approximately $25
million of revenue for fiscal year 2011 and will be immediately
accretive to earnings.
Based in East Alton, Illinois, with a location in Orangeburg, South Carolina, Fabritech employs approximately 55 people. The company provides high-end maintenance and manufactured solutions focused on aviation drive train, mechanical, hydraulic and electrical hardware items including gearboxes, cargo hooks and vibration absorbers. Fabritech also produces fabricated textile items such as seat cushions and sound insulation blankets for military rotary-wing platforms.
Richard C. Ill, Triumph's Chairman and Chief Executive Officer, said, "We are pleased to have acquired Fabritech and view this as an opportunity to leverage their market position with the military across our entire organization. The rotary-wing components that Fabritech manufactures or repairs are excellent additions to the Aftermarket Services Group's core competencies and expands the value added products and services that we provide to our customers."
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 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 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, 2009.
SOURCE: Triumph Group, Inc.
Triumph Group, Inc.