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|Triumph Group, Inc. Selected by The Boeing Company to Supply the USAF with C-17 APU Maintenance Services|
WAYNE, Pa.--(BUSINESS WIRE)--May 1, 2003--Triumph Group, Inc. (NYSE:TGI) and The Boeing Company announced today that Triumph Air Repair, a Triumph Group Company based in Phoenix, Arizona, was selected by The Boeing Company, to provide Auxiliary Power Unit (APU) maintenance to support the C-17 Flexible Sustainment program.
The Flexible Sustainment Program is the maintenance support agreement between The Boeing Company and the United States Air Force to support the C-17 Globemaster aircraft and Triumph will act as a subcontractor under this program. The APU is a GTCP 331 Series model and the contract is valued at $61 million over five years.
"We are delighted to have the Triumph Group and The Boeing Company partner to supply a comprehensive APU maintenance program for the USAF and we look forward to supporting the Flexible Sustainment program over the next five years," said Richard C. Ill, President and CEO of Triumph Group. "The addition of this program further enhances our position as the leading independent provider of APU maintenance services."
Terry Langerman, Boeing's Director of Propulsion Sustainment IPT under C-17 Support Systems said, "Triumph earned the award by demonstrating Best Value taking into consideration price, technical and management capability, program risk, and a plan to 'Partner' with the USAF Ogden Air Logistics Center (ALC) located at Hill AFB, Utah."
Under Flex, total system sustainment responsibility is placed on C-17 prime contractor Boeing to achieve improvements in logistics support and mission readiness while reducing operating and support costs.
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.
More information about Triumph can be found on the World Wide Web Site at http://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. 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.CONTACT: Triumph Group, Inc., Wayne John Bartholdson, 610/251-1000 email@example.com SOURCE: Triumph Group, Inc.