WAYNE, Pa.--(BUSINESS WIRE)--April 4, 2006--Triumph Group, Inc.
(NYSE:TGI) announced today the completion of an agreement to purchase
the assets of Excel Manufacturing, Inc. The acquired business is
expected to add approximately $35 million of revenue for fiscal 2007.
The cash terms of the deal were not disclosed.
Excel Manufacturing is located in Wichita, Kansas and employs
approximately 140 people. Excel manufactures aircraft structural
components specializing in complex precision machining, subassemblies
and sheet metal fabrication, primarily for major aviation and
aerospace clients. Machining includes high-speed milling, conventional
computer numerical control (CNC) machining, multi-axis CNC turning,
water-jet machining and manual machining services. The company uses
the latest state-of-the-art, high-speed machining processes and
equipment to produce complex aircraft monolithic components, giving
its customers a product made from one piece rather than the
conventional metal assemblies.
Richard C. Ill, Triumph's President and Chief Executive Officer,
said, "The Excel Manufacturing transaction adds a significant new
capability to our Aerospace Systems Group with their high-speed
monolithic machining processes. The ability to machine monolithic
one-piece structural components strengthens Triumph's product
offerings to our major airframe customers. Excel's strong existing
backlog, military/commercial sales mix and projected sales growth
should provide an attractive return on investment. We are pleased that
the management team, led by Marwan Hammouri, will remain with Triumph
to continue executing Excel's growth strategy."
Triumph Group, Inc., headquartered in Wayne, Pennsylvania,
designs, engineers, manufactures, repairs and overhauls aircraft
components and accessories. The company serves a broad, worldwide
spectrum of the aviation industry, including commercial and regional
airlines, air cargo carriers, as well as original equipment
manufacturers of commercial, regional, business and military aircraft
and aircraft components.
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 provisions of the Private
Securities Litigation Reform Act of 1995, including statements of
expected future revenue and sales growth. 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, 2005.
CONTACT: Triumph Group, Inc.
John Bartholdson, 610-251-1000
SOURCE: Triumph Group, Inc.