WAYNE, Pa.--(BUSINESS WIRE)--March 30, 2004--Triumph Group, Inc.
(NYSE:TGI) today announced that effective April 1, 2004, the Company
will realign its operating structure into two business groups, Triumph
Aerospace Systems Group and Triumph Aftermarket Services Group, under
the leadership of Jeffry Frisby and John Brasch, respectively. The
companies that formerly were included in Triumph Components Group have
been consolidated into these two groups.
In addition, Triumph announced that effective April 1, 2004,
several of its operations in the Phoenix, Arizona area, including
Triumph Components - Arizona, Inc., Triumph Thermal Processing
Company, Advanced Materials Technologies, Inc., and Special Processes
of Arizona, Inc., will be combined to form a new company, Triumph
Engineered Solutions, Inc., which will be part of Triumph Aftermarket
Services Group. Richard Wisniewski, formerly President of Triumph Air
Repair, will become President of Triumph Engineered Solutions, Inc.
Michael Hansen, President of Triumph Accessory Services in Wellington,
Kansas, will become the new President of Triumph Air Repair in
Phoenix. A successor to Mr. Hansen at Triumph Accessory Services will
be named shortly.
Commenting on the reorganization, Richard C. Ill, President and
CEO of Triumph Group said, "This new organizational structure is
consistent with our continued growth and development as a significant
provider of turbine products and services to aerospace and turbine
operators and to the maintenance, repair and overhaul market. The new
organization is intended to enhance our ability to deliver
better-coordinated solutions for our customers' needs. The creation of
our new company, Triumph Engineered Solutions, will enable us to more
efficiently produce the products used by our customers for their
turbine component maintenance requirements."
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.
More information about Triumph can be found on the Internet at
Statements which are not historical facts, including statements
regarding the company's ability to deliver better coordinated
solutions to customers and its ability to more efficiently produce
product for turbine component maintenance, 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, 2003.
CONTACT: Triumph Group, Inc., Wayne
John Bartholdson, 610-251-1000
SOURCE: Triumph Group, Inc.