WAYNE, Pa.--(BUSINESS WIRE)--Nov. 6, 2002--Triumph Group, Inc.
(NYSE:TGI) announced today that it has been awarded a five year
agreement to supply the combustor liner on the AGT1500 engine which
powers the Abrams M1A1, M1A2 Tank.
The long-term contract between the US Army Tank Automotive and
Armaments Command (TACOM) and Stolper-Fabralloy, part of Triumph's
Operational Components Group, is a "Blanket order" for a maximum of
3099 units over a five year period. The contract has an estimated
value of over $22 million. Triumph reported that Stolper has had two
releases against the contract, the first being 564 units and the
second 166 units for delivery between 3-30-03 through 6-30-03.
Richard C. Ill, President and Chief Executive Officer of Triumph
Group, Inc. said, "We believe Triumph's experience in offering cost
effective solutions and our commitment to meet or exceed the most
stringent quality control requirements enabled us to win this
business. We have targeted the AGT1500 engine as a program on which to
position our Operational Components Group. There are several
components in the hot section as well as the inlet section that are
the core of our group capabilities and we look forward to pursuing
Stolper-Fabralloy located in Phoenix, AZ and Brookfield, WI
designs and manufactures gas turbine engine sheet metal components
with a broad range of processing options from aluminum and titanium to
super high temp alloys.
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 manufactures of aircraft and aircraft components and power
generation equipment. The Company also distributes, processes and
fabricates metal products.
Statements which are not historical facts, including statements
about continued growth opportunities, contained in this release 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.
More information about Triumph can be found on the World Wide Web
Site at http://www.triumphgroup.com.
||Triumph Group, Inc.
||John Bartholdson, 610/975-0420