WAYNE, Pa., Aug 2, 2002 (BUSINESS WIRE) -- Triumph Group, Inc. (NYSE:TGI)
announced today the acquisition of the assets of Aerocell Structures, Inc.
located in Hot Springs, AR.
The acquired business will become part of Airborne Nacelle Services, Inc., a
Triumph company in the Aftermarket Services Group - Component Repair and
Overhaul. Aerocell is projected to contribute approximately $10 million of
incremental revenue to Airborne Nacelle during its first full year.
Aerocell specializes in the repair and overhaul of airframe components, bonded
components, and structural assemblies for all commercial air fleets.
Richard C. Ill, President and Chief Executive Officer of Triumph Group, Inc.
said, "Aerocell compliments Airborne Nacelle and increases our capabilities to
repair both nacelles (thrust reversers) and flight controls. We continue to add
products and services that enable us to further compete within our industry and
to continue to increase market share."
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
and uncertainties. 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