BERWYN, Pa.--(BUSINESS WIRE)--May. 6, 2013--
Triumph Group, Inc. (NYSE:TGI) today announced the acquisition of
Primus Composites from Precision Castparts Corp. The acquired business,
which consists of two manufacturing facilities in Farnborough, England
and Rayong, Thailand, will operate as Triumph Structures-Farnborough and
Triumph Structures-Thailand and be included in the Aerostructures Group.
The business is expected to add approximately $55.0 million in annual
revenue and to be immediately accretive to earnings.
Employing approximately 650 employees, Primus Composites is a global
supplier of composite and metallic propulsion and structural composite
components and assemblies. In addition to its composite operations, the
Thailand operation also machines and processes metal components. Key
customers include Airbus, Rolls Royce, Aircelle and Bombardier.
Jeffry D. Frisby, Triumph’s President and Chief Executive Officer, said,
“The acquisition of Primus Composites increases our global presence,
expands our structural composite capabilities and enhances our customer
relationships. We are pleased that the management team of Doug Fletcher,
Paul Jerram and Alex Beysen will remain with Triumph and view the
acquisition as an excellent strategic fit within our Aerostructures
Triumph Group, Inc., headquartered in Berwyn, Pennsylvania, designs,
engineers, manufactures, repairs and overhauls a broad portfolio of
aerostructures, aircraft 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, without limitation,
statements about expectations of future annual revenues and accretion to
earnings. 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, 2012.
Source: Triumph Group, Inc.
Triumph Group, Inc.