WAYNE, Pa., Aug 2, 2002 (BUSINESS WIRE) -- Triumph Group, Inc. (NYSE:TGI)
announced today the acquisition of the assets of Furst Aircraft and Instrument,
located in Teterboro, NJ.
The company will become part of the Triumph Aftermarket Services Group -
Instrument Repair and Overhaul. Furst is projected to add approximately $6
million of revenue during its first full year as a Triumph company.
Furst Aircraft and Instrument operates within the business jet market as a
certified instrument repair, overhaul and re-certification facility. Furst has
capabilities on more than 1,500 components and represents most major
manufacturers. In addition, the company provides avionics install services,
rotables, loaners, engineering, 24-hour AOG support, inventory and parts
management and field services.
Richard C. Ill, President and Chief Executive Officer of Triumph Group, Inc.
said, "Furst serves a niche outside our existing instrument repair and overhaul
companies. Furst's success factors of individualized service, quality, and
on-time performance have afforded the company a respected reputation within its
target market and align well with our organizational competencies. We are
pleased to welcome Furst to the Triumph family of companies."
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 at 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 including
references to projected revenues. All forward-looking statements involve risks
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, 610/975-0420