WAYNE, Pa., Aug 17, 2009 (BUSINESS WIRE) -- Triumph Group, Inc. (NYSE:TGI) today announced an amendment to
its existing unsecured revolving credit agreement which increased the
size of the facility from $370 million to $485 million and extended the
maturity from June, 2011 to January, 2013. The company intends to use
the facility for working capital purposes, internal growth initiatives,
funding of future acquisitions and other general corporate purposes.
David Kornblatt, Triumph's Executive Vice President and Chief Financial
Officer, said, "We are very pleased with the amendment to our bank
facility. The increased size and extended term will allow Triumph to
continue to execute our plans for investing in our business and for
pursuing acquisitions. We appreciate the long time support of our bank
group and our lead bank, PNC."
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. 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 fiscal year ended March 31, 2009.
SOURCE: Triumph Group, Inc.
Triumph Group, Inc.
Sheila G. Spagnolo, Vice President