WAYNE, Pa.--(BUSINESS WIRE)--July 14, 2004--Triumph Group, Inc.
(NYSE:TGI) announced today that it has learned that the Company has
been named as a defendant in a lawsuit filed by Eaton Corporation and
several Eaton subsidiaries. The complaint, which has not been formally
served, alleges that Triumph misappropriated trade secrets and
intellectual property belonging to Eaton related to the design and
manufacture of hydraulic pumps and motors used in military and
commercial aviation. Also named as defendants were Triumph's
subsidiary, Frisby Aerospace, L.L.C., certain related subsidiaries and
certain employees of Triumph and the subsidiaries. The complaint
alleges violations of Mississippi law exclusively and was filed in the
Circuit Court of the First Judicial District of Hinds County,
Triumph believes it has meritorious defenses to the allegations
contained in Eaton's complaint, intends to conduct a vigorous defense
and is considering potential claims against Eaton.
The allegations relate to conduct that is the subject of an
investigation by the office of the U.S. Attorney in Jackson,
Mississippi that commenced in January 2004 with a search of the
offices of Frisby Aerospace. Triumph and its subsidiaries have been
cooperating fully with the investigation, which is continuing. Neither
Triumph nor any of its subsidiaries has been identified as a target.
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
More information about Triumph can be found on the Internet at
Statements in this release which are not historical facts, are
forward-looking statements under the provision of the Private
Securities Litigation Reform Act of 1995. All forward-looking
statements involve risks and uncertainties which 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, 2004.
CONTACT: Triumph Group, Inc.,
John Bartholdson, 610-251-1000
SOURCE: Triumph Group, Inc.