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|Triumph Group Signs 5 Year Contract With US Army Tank Automotive and Armaments CommanD|
WAYNE, Pa.--(BUSINESS WIRE)--Nov. 6, 2002--Triumph Group, Inc. (NYSE:TGI) announced today that it has been awarded a five year agreement to supply the combustor liner on the AGT1500 engine which powers the Abrams M1A1, M1A2 Tank.
The long-term contract between the US Army Tank Automotive and Armaments Command (TACOM) and Stolper-Fabralloy, part of Triumph's Operational Components Group, is a "Blanket order" for a maximum of 3099 units over a five year period. The contract has an estimated value of over $22 million. Triumph reported that Stolper has had two releases against the contract, the first being 564 units and the second 166 units for delivery between 3-30-03 through 6-30-03.
Richard C. Ill, President and Chief Executive Officer of Triumph Group, Inc. said, "We believe Triumph's experience in offering cost effective solutions and our commitment to meet or exceed the most stringent quality control requirements enabled us to win this business. We have targeted the AGT1500 engine as a program on which to position our Operational Components Group. There are several components in the hot section as well as the inlet section that are the core of our group capabilities and we look forward to pursuing these opportunities."
Stolper-Fabralloy located in Phoenix, AZ and Brookfield, WI designs and manufactures gas turbine engine sheet metal components with a broad range of processing options from aluminum and titanium to super high temp alloys.
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 manufactures of aircraft and aircraft components and power generation equipment. The Company also distributes, processes and fabricates metal products.
Statements which are not historical facts, including statements about continued growth opportunities, contained in this release 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.
More information about Triumph can be found on the World Wide Web Site at http://www.triumphgroup.com.