WAYNE, Pa.--(BUSINESS WIRE)--Nov. 6, 2006--Triumph Group, Inc.
(NYSE:TGI) today announced the acquisition of Allied Aerospace
Industries, Inc., a premier provider of engineering design and
manufacturing solutions for complex aerospace and defense programs,
from an affiliate of Kohlberg & Company, L.L.C. for an undisclosed
amount of cash. The acquired business, which will operate as Triumph
Aerospace Systems - Newport News and be part of the Aerospace Systems
Group, is projected to add approximately $19 million of revenue for
the remaining five months of fiscal year 2007 and be immediately
accretive to earnings.
Allied Aerospace is headquartered in Newport News, Virginia with
additional operations in Florida, California and Alabama and has a
highly skilled and technically oriented workforce of approximately 160
people. The company offers a fully integrated range of capabilities,
including systems engineering, conceptual engineering, mechanical
design and analysis, prototype and limited-rate production, and
instrumentation assembly and testing services.
Richard C. Ill, Triumph's President and Chief Executive Officer,
said, "As a leading provider of comprehensive and high value
engineering solutions, the Allied Aerospace acquisition allows Triumph
to meet the growing demand for outsourced technical design and
engineering capabilities. We view their program management and service
focus as excellent additions to the Aerospace Systems Group's core
competencies. We are pleased that the management team, led by Bill
Jacobson, will remain with Triumph to continue to deliver exceptional
value to their customers."
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 original equipment
manufacturers of commercial, regional, business and military aircraft
and aircraft components, as well as commercial and regional airlines
and air cargo carriers.
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 revenues and accretion. 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 year ended March 31,
CONTACT: Triumph Group, Inc.
John Bartholdson, 610-251-1000
SOURCE: Triumph Group, Inc.