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|Triumph Group Acquires Aerocell Structures, Inc.|
|WAYNE, Pa., Aug 2, 2002 (BUSINESS WIRE) -- Triumph Group, Inc. (NYSE:TGI)
announced today the acquisition of the assets of Aerocell Structures, Inc.
located in Hot Springs, AR.
The acquired business will become part of Airborne Nacelle Services, Inc., a Triumph company in the Aftermarket Services Group - Component Repair and Overhaul. Aerocell is projected to contribute approximately $10 million of incremental revenue to Airborne Nacelle during its first full year.
Aerocell specializes in the repair and overhaul of airframe components, bonded components, and structural assemblies for all commercial air fleets.
Richard C. Ill, President and Chief Executive Officer of Triumph Group, Inc. said, "Aerocell compliments Airborne Nacelle and increases our capabilities to repair both nacelles (thrust reversers) and flight controls. We continue to add products and services that enable us to further compete within our industry and to continue to increase market share."
Triumph Group, Inc. headquartered in Wayne, Pennsylvania, designs, engineers, manufactures, repairs and overhauls aircraft components and industrial gas turbine components and accessories.
The Company serves a broad, worldwide spectrum of the aviation industry, including commercial airlines and air cargo carriers, as well as original equipment manufacturers of aircraft and aircraft components and power generation equipment. The Company also distributes, processes and fabricates metal products. More information about Triumph can be found at www.triumphgroup.com.
Statements, which are not historical facts, are forward-looking statements under the provision of the Private Securities Litigation Reform Act of 1995 including references to projected revenues. All forward-looking statements involve risks and uncertainties. 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, 2002.
CONTACT: Triumph Group, Inc., Wayne John Bartholdson, 610/975-0420 firstname.lastname@example.org