WAYNE, Pa.--(BUSINESS WIRE)--Oct. 15, 2001--Triumph Group, Inc.
(NYSE:TGI) announced today the acquisition of the assets of EMCO Fluid
Systems, located in Valencia, CA.
The new company will be called EFS Aerospace, Inc., (EFS) and will
become part of the Triumph Control Systems Group. EFS is projected to
add approximately $30 million of revenue during its first full year as
a Triumph company.
EFS is a leading manufacturer of fluid control systems and
components used throughout the aviation and aerospace industries.
Founded in 1983, EFS' scope of business includes comprehensive design,
production, assembly, and testing of both hydraulic and pneumatic
valves and actuators.
Specific products and capabilities of EFS include: landing gear
actuators, ground spoiler actuators, solenoid valves, control-valves,
brake manifolds, sequencing valves, and accumulators. Customers
include most of the North American manufacturers of commercial and
Richard C. Ill, President and Chief Executive Officer of Triumph
Group, Inc. said, "EFS provides a wide range of products emphasizing
proprietary design and engineering capabilities. We are pleased
Richard Fritch and Art Johnson will continue to guide EFS' success by
continuing in their ongoing roles as President and Executive Vice
President respectively. We welcome EFS to the Triumph family of
companies, and we feel this addition will afford us the opportunity to
further complement our existing product line of proprietary controls."
Triumph Group, Inc. headquartered in Wayne, PA, designs,
engineers, manufactures, repairs and overhauls aircraft and industrial
gas turbine components and accessories.
The Company serves a broad, worldwide spectrum within the aviation
industry, including commercial airlines and air cargo carriers, and
the ground power generation industry, as well as provides products to
original equipment manufacturers of aircraft, aircraft components, and
industrial gas turbine engines. The Company also distributes,
processes and fabricates metal products.
More information about Triumph can be found on the World Wide Web
Statements which are not historical facts contained in this
release, including statements relating to expected revenues and
benefits of this acquisition, 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.
||Triumph Group, Inc., Wayne
||JoAnn P. Huston, 610/293-6823 Ext.104