BERWYN, Pa.--(BUSINESS WIRE)--Oct. 4, 2016--
Triumph Group, Inc. (NYSE:TGI) finalized two contracts with
SNC-Lavalin valued at approximately $48 million ($62 million CAD) to
supply complex safety-critical components in support of the Ontario
Darlington Retube & Feeder Replacement program.
Under the contracts, Triumph’s facility in Toronto will supply end
fittings and shield plugs for the nuclear pressure vessels for all four
of the Darlington Nuclear Generating Stations Reactors, located on the
north shore of Lake Ontario. The components will be delivered over the
next seven years.
“These contracts demonstrate the trust customers place on our production
of safety critical, close-tolerance parts,” said Rick Rosenjack,
executive vice president for Triumph’s Precision Components business
unit. “Triumph was the first company to attain part qualification to
manufacture these critical components for this project, and SNC-Lavalin
saw value in our agility and experience. We look forward to supporting
SNC-Lavalin and the Canadian reactor refurbishment program.”
“Triumph is a key supplier to SNC-Lavalin in our support of the
Darlington RFR project,” said Preston Swafford, chief nuclear officer &
executive vice-president, Nuclear, SNC-Lavalin. “These components will
help ensure the Darlington CANDU reactors continue to provide Ontario
with safe, reliable, affordable and low-carbon energy for another 30
About 15 percent of Canada's electricity comes from nuclear power, with
19 reactors mostly in Ontario providing 13.5 GWe (gigawatt electricity)
of power capacity. To meet current and future electricity needs,
provincial governments and power companies made the decision to extend
the operating life of a number of reactors by refurbishing them. Four of
the units are planned to undergo major refurbishments over the next 10
Ontario Power Generation recently acknowledged Triumph with a plaque for
their involvement as a partner in the Darlington Retube & Feeder
Replacement program. The Toronto-based Triumph business has supported
the Canadian utility provider for 20 years, outfitting pressure vessel
end fittings as nuclear power plants were built across Ontario.
Triumph Group, Inc., headquartered in Berwyn, Pa., 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 statements about
aggregate revenue. 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, 2016.
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Source: Triumph Group, Inc.
Triumph Group, Inc.
Sheila G. Spagnolo,