WAYNE, Pa., Oct 8, 2004 (BUSINESS WIRE) -- Triumph Group, Inc.
(NYSE:TGI) announced the suspension of operations effective December
31, 2004 at the Phoenix Manufacturing Division of its subsidiary,
Triumph Engineered Solutions, Inc., located in Tempe, Arizona. This
action is a result of a plant closure and the relocation of the
industrial gas turbine manufacturing business. In connection with the
shutdown, Triumph Engineered Solutions issued a notice to its
workforce on October 5, 2004 pursuant to the federal Worker Adjustment
and Retraining Notification Act.
The suspension of operations at the Phoenix Manufacturing Division
is part of the consolidation of the operations of the company's former
Components Group reported in April 2004. At that time, the company
announced that it anticipated incurring up to $4.0 million of costs in
fiscal year 2005 as the consolidation was completed. The anticipated
costs associated with the action announced today fall within the
previously announced range.
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.
More information about Triumph can be found on the Internet at
Statements in this release that are not historical facts are
forward-looking statements under the provisions 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 Annual Report on Form 10-K for the fiscal year
ended March 31, 2004.
SOURCE: Triumph Group, Inc.
Triumph Group, Inc., Wayne
John Bartholdson, 610-251-1000