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|Triumph Group Acquires EMCO Fluid Systems|
WAYNE, Pa.--(BUSINESS WIRE)--Oct. 15, 2001--Triumph Group, Inc. (NYSE:TGI) announced today the acquisition of the assets of EMCO Fluid Systems, located in Valencia, CA.
The new company will be called EFS Aerospace, Inc., (EFS) and will become part of the Triumph Control Systems Group. EFS is projected to add approximately $30 million of revenue during its first full year as a Triumph company.
EFS is a leading manufacturer of fluid control systems and components used throughout the aviation and aerospace industries. Founded in 1983, EFS' scope of business includes comprehensive design, production, assembly, and testing of both hydraulic and pneumatic valves and actuators.
Specific products and capabilities of EFS include: landing gear actuators, ground spoiler actuators, solenoid valves, control-valves, brake manifolds, sequencing valves, and accumulators. Customers include most of the North American manufacturers of commercial and military aircraft.
Richard C. Ill, President and Chief Executive Officer of Triumph Group, Inc. said, "EFS provides a wide range of products emphasizing proprietary design and engineering capabilities. We are pleased Richard Fritch and Art Johnson will continue to guide EFS' success by continuing in their ongoing roles as President and Executive Vice President respectively. We welcome EFS to the Triumph family of companies, and we feel this addition will afford us the opportunity to further complement our existing product line of proprietary controls."
Triumph Group, Inc. headquartered in Wayne, PA, designs, engineers, manufactures, repairs and overhauls aircraft and industrial gas turbine components and accessories.
The Company serves a broad, worldwide spectrum within the aviation industry, including commercial airlines and air cargo carriers, and the ground power generation industry, as well as provides products to original equipment manufacturers of aircraft, aircraft components, and industrial gas turbine engines. The Company also distributes, processes and fabricates metal products.
More information about Triumph can be found on the World Wide Web at http://www.triumphgroup.com
Statements which are not historical facts contained in this release, including statements relating to expected revenues and benefits of this acquisition, are forward-looking statements under the provision of the Private Securities Litigation Reform Act of 1995.
All forward-looking statements involve risks and uncertainties including statements regarding the outlook for continued opportunities for future growth. The company wishes to caution readers that several important factors 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 Form 10-K for the year ended March 31, 2001.