WAYNE, Pa.--(BUSINESS WIRE)--Mar. 31, 2009--
Triumph Group, Inc. (NYSE:TGI) today announced the acquisition of
The Mexmil Company, LLC, a global leader in the design, manufacture and
repair of thermal-acoustic insulation systems for commercial aerospace
applications. The acquired business, which will operate as Triumph
Insulation Systems, LLC and will be part of Triumph Aerospace Systems
Group, is expected to add approximately $50 million of revenue for
fiscal year 2010 and will be immediately accretive to earnings.
Headquartered in Santa Ana, California, Mexmil has manufacturing
locations in Mexico and, through a joint venture, in China. Mexmil’s
primary business is the production of insulation systems provided to
original equipment manufacturers, airlines, maintenance, repair and
overhaul organizations and air cargo carriers. Mexmil also provides
products in the ancillary aircraft interiors and spares markets.
Richard C. Ill, Triumph’s President and Chief Executive Officer, said,
“As a leading provider of thermal-acoustic insulation systems, Mexmil
increases our global presence and expands the product and services
supplied by our Aerospace Systems Group. It will also enhance our
ability to provide a more comprehensive interiors solution to our
current and future customers. We are pleased that the management team,
led by Scott Holland and Bill Gresher, will remain with Triumph to
continue to deliver exceptional value to their global customers.”
Triumph Group, Inc., headquartered in Wayne, Pennsylvania, designs,
engineers, manufactures, repairs and overhauls aircraft components and
accessories. 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
More information about Triumph can be found on the Internet 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 of
expected revenue and accretion. 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’s reports filed with the SEC, including our Annual Report on
Form 10-K for the year ended March 31, 2008.
Source: Triumph Group, Inc.
Triumph Group, Inc.
Sheila G. Spagnolo