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|Triumph Group Announces New President of Subsidiary|
|WAYNE, Pa., Mar 4, 2003 (BUSINESS WIRE) -- Triumph Group, Inc. (NYSE:TGI)
announced today that Richard Reed has been named President of its Frisby
Aerospace, Inc. subsidiary.
Frisby manufacturers, designs and repairs complex hydraulic and hydro-mechanical aircraft components and systems and operates facilities in Freeport, New York and Clemmons, North Carolina.
Reed joined Frisby in August 2000 as Director of Aftermarket Services. Prior to joining Frisby he had been employed with Piedmont Aviation, Inc. for more than 22 years, most recently serving as Vice President, Aviation Services.
Reed completed his undergraduate education at North Carolina State University with a degree in Aerospace Engineering and holds a commercial pilot's license. He replaces Jeff Frisby as President of Frisby Aerospace. Mr. Frisby remains President of Triumph's Control Systems Group.
"Rick Reed has clearly demonstrated his ability to assume these increased responsibilities through his dedicated effort and proven results as head of Frisby Aerospace's Aftermarket Services Division", said Mr. Frisby. "We look forward to Frisby Aerospace's continued growth under Rick's leadership".
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 on the World Wide Web Site at http://www.triumphgroup.com.
Statements which are not historical facts, including statements regarding the future growth prospects of Frisby Aerospace, Inc. 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, 2002.
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